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Sega Gives Financial Results

Sega Corp. has reported select financial details from the April December period of its current fiscal year.

Revenue over that period dipped to 144.5 billion yen (approximately $1.37 billion U.S.), from a 150.7 billion yen (approximately $1.43 billion U.S.) figure in the same period a year earlier. Group net profit jumped some 92.0 percent however, to 7.66 billion yen (approximately $72.60 million U.S.), versus the previous yearís 3.98 billion yen (approximately $37.72 million U.S.).

The companyís arcade business helped buoy results, while its consumer business contributed a nine-month operating loss of 2.3 billion yen (approximately $21.80 million U.S.).

For its full fiscal year, ending March 31, 2004, Sega continued to point towards a net profit of 8.0 billion yen (approximately $75.83 million U.S.), but now expects group sales to come in at 190.0 billion yen (approximately $1.8 billion U.S.), down from a previous estimate of 195.7 billion yen (approximately $1.86 billion U.S.).

Postponing the release of some of its games until the next fiscal year also caused Sega to lower its software sales expectations for the current fiscal year, to 8.35 million from 9.38 million.

Sega will also hold a special shareholders meeting on February 17, in which a pair of directors from Sammy Studios will be appointed to its board. Sammy purchased a 22.4 percent stake in Sega last year. A rate of 1 USD = 105.515 JPY was used to convert results.

2/6/2004 Aaron Thomas

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