News: Sega Profits Soar
Posted 05 Feb 2004 at 23:12 by Iun Hockley
Sega have announced some impressive financial figures for the nine-month period 2003.
Following on from todays exciting downloadable screensaver calender, Sega have reported some exciting profits and gains for the nine-month financial period last year.
Profits for the period hit the 7.66 billion yen mark (around �40 million)compared to the same period 2002 which brought approximately half the amount earned last year at 3.98 billion yen. So in a year, Sega have seen an upturn of almost double their profits! This has been attributed principally to their arcade division.
It's not all good news though, as estimated net profits for December fell from the same period last year to �10 million. Sega have also done what is to be soon called "Doing a Nintendo" and dropped their projected sales from 9 million units to 8 million units. The company wished to stress that this is not due to underperformance, but instead as a direct result of the decision to push certain titles back to the beginning of the financial year April 2004 to address "Quality issues".
Let's hope that with Sammy owning the largest stake in the company that the former Japanese giant will be allowed to reinvest it into software sales rather than Japan-centric pachinko machines.