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SEGA Sammy posts financial improvement

Revenues and profits both rise, although company notes "adverse market conditions" in the West

SEGA Sammy Holdings has reported its financial results for the nine months ending December 31, 2010, with headline growth on both revenue and profit numbers.

The overall corporation saw sales rise by 8.7 per cent to ¥310 billion ($3.8 billion), while profit was up significantly, by 118.2 per cent to ¥63.0 billion ($772 million).

The majority of the income came from the pachinko and amusement segments of the business, with its videogame publishing arm bringing in ¥67.4 billion ($826 million) in revenues and ¥2.8 billion ($34.3 million) profit.

Titles released in the third quarter included Sonic Colors, Vanquish and Football Manager 2011 in the Western markets, while Shining Hearts was launched in Japan - but the company noted that it still found the videogames environment a challenge.

"In the overseas markets, sales of the new titles remained slow as affected by the adverse market condition, although sales remained solid in the Japanese market," read a statement.

In total just shy of 6 million game units were sold in Europe, compared to 5.8 million in the US and 1.9 million in Japan and other regions, making 13.6 million in total.

For the full year the company is forecasting overall revenues of ¥410 billion ($5.0 billion), which would be up 6.6 per cent over the previous year; and ¥37.5 billion ($460 million) in net income, representing growth of 77 per cent. Earnings per share have been estimated at ¥147.44 ($1.81).

The company's share price closed today up 1 per cent at ¥1744 ($21.38).

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