TDK Swings To FQ3 Loss

TDK Corp (OTC: TTDKY) swung to a loss in the fiscal third quarter.

TDK posted a net loss of Y11.6 billion for the October-December period, versus a year-ago net profit of Y12.6 billion. Its revenue fell to Y191.8 billion from Y219.94 billion. TDK's operating profit dipped to Y7.03 billion from Y17.21 billion.

For this fiscal year ending March, TDK now projects a net loss of Y11 billion.

TDK shares closed at $47.95 yesterday.