TDK Q3 Recording Media Sales Off - Twice

TDK Q3 Recording Media Sales Off

Author:
Publish date:
Social count:
0

Tokyo - Sales in TDK's recording media and systems segment dropped 1.6 percent in its fiscal third quarter, down to $332.6 million, from $338 million the previous year.

Audio and videotape led the downward trend.

However, TDK reported third quarter operating income of $2.9 million in its recording media and systems segment, compared with an operating loss of $8.5 million in the year-ago period.

Sales to the Americas in the third quarter, ended Dec. 31, edged downward 1.4 percent, hitting $235 million, compared with $238.3 million in the same three months in 2001.

Consolidated sales in the third quarter pushed TDK up 9.2 percent, to $1.4 billion, compared with $1.2 billion year over year. The company reported operating income of $51.6 million in the three months, compared with an operating loss of $118.4 million in the same quarter in 2001. Net income for the three months came in at $38.2 million, compared with a loss of $81.5 million in the same quarter the previous year.

TDK projects net sales of $5.1 billion for the year, ended March31, up from $4.8 billion in the year-ago period. Net income is expected to rise to $105.3 million for the 12 months, compared with a net loss of $215.3 million in the same quarter the previous year.

Featured

Related Articles