TOKYO (dpa-AFX) - Japanese manufacturer of passive components and magnetic application products TDK Corp. (TTDKF.PK, TTDKY.PK) Wednesday reported first-quarter net income attributable to the company of 15.588 billion Japanese yen or $144.33 million compared to 16.197 billion yen a year ago.
Earnings per share were 123.15 yen or $1.14 that declined from 127.94 yen a year ago.
Operating income for the quarter was 24.98 billion yen or $231.29 million, down from 25.42 billion yen in the previous year.
Net sales declined 1.8 percent to 336.82 billion yen or $3.118 billion from 343.07 billion yen last year.
Looking ahead for fiscal 2020, the company expects attributable net income of 84 billion yen and operating income of 120 billion yen, a growth of 11.3 percent from last year.
Net sales for the year are expected to be 1.42 trillion yen, up 2.8 percent.
Copyright RTT News/dpa-AFX