informa
1 MIN READ
News

TDK Posts Loss In Q3, Lowers Guidance For Fiscal Year

TDK Mediactive reported results for Q3 today, posting a loss due to "slower than expected retail sales, higher than anticipated price competition and conservative inventory and reorder policies on the part of retailers."
The company's revenue for the quarter rose by 12.4% to $18.5 million. However, despite higher revenues, the company dove into red ink for the quarter, posting a loss of $560,140 (2 cents per share) compared to a profit of $827,825 (4 cents per share) last year. The company attributed the loss to product pricing pressures, increased product amortization due to lower than anticipated sales volumes and write-offs of abandoned development projects. Commenting on the company's performance in the quarter, company CEO Vincent Bitetti, said that "Q3 was a challenging quarter as we faced a highly competitive retail holiday selling environment and conservative retailer inventory postures in which initial orders were scaled back and reorders, even for very strong performing titles, were limited." The company also lowered its guidance for the current fiscal year. Just last month it anticipated a loss on the year of $1.2-$2.4 million, but now believes the loss will be about $3.5 million. It did not change its revenue estimate for the year, indicating the wider loss is entirely due to lower sales margins.

Latest Jobs

Manticore Games

San Mateo, California
8.23.22
Senior Software Engineer - Mobile

Sony PlayStation

San Diego, California
6.23.22
Sr. Online Programmer

The Walt Disney Company

Glendale, California
8.1.22
Associate Marketing Manager - Walt Disney Games

Insomniac Games

Burbank, California
8.26.22
Accessibility Design Researcher
More Jobs   

CONNECT WITH US

Explore the
Subscribe to
Follow us

Game Developer Job Board

Game Developer Newsletter

@gamedevdotcom

Explore the

Game Developer Job Board

Browse open positions across the game industry or recruit new talent for your studio

Browse
Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Subscribe
Follow us

@gamedevdotcom

Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more