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DVG: Video Game Reviews & Cheats Developer and Publisher Forums Sega


Sega Profits Drop 50%

 
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Barry
Mr. Do It All


Aug 5, 2004, 7:58 PM

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Sega Profits Drop 50% Can't Post
Profits at Sega Corp., the Japanese video-game maker known for Sonic the Hedgehog titles and Dreamcast console, fell 50 percent in the latest quarter from a year ago as sales slipped. Tokyo-based Sega said Thursday group net profit for the first fiscal quarter ended June 30 totaled 932 million yen ($8.4 million), down from 1.89 billion yen the same period a year ago. Sales dipped 1.4 percent to 41.80 billion yen ($377 million) from 42.37 billion yen.


But Sega said both its arcade and consumer video-game segments were going well and results were better than it had expected. Video game software and equipment makers' earnings tend to fluctuate depending on when new games go on sale. Results depend largely on the October-December period, which includes the Christmas shopping seasons.


Sega reaffirmed its forecast for the full year through March 2005 for a profit of 8 billion yen ($72 million) on sales of 204 billion yen ($1.8 billion). Sega is set to integrate its operations with Japanese pinball company Sammy Corp. on Oct. 1 by setting up a joint holding company. The move will create Japan's biggest video-game software company in revenue.


For the April-June quarter, Sammy recorded a sevenfold surge in net profit at 21.42 billion yen ($193 million), up from 2.94 billion yen the same period a year ago. Sales more than quadrupled to 109.7 billion yen ($988 million) from 27.16 billion yen.

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