twice connect
careers

Sega Consumer Biz Posts Loss

5/19/2003 08:31:00 AM Eastern

Tokyo - Lack of demand in its consumer video game business weighed heavily on profitability at Japanese video game maker Sega, with its consumer business reporting an operating loss of $73.9 million for the year ended March 31. This compares with operating income of $48.1 million for the previous 12 months.

Sales in the consumer business declined 21.8 percent for the year, reaching $574.1 million, down from $734.4 million in the same period a year earlier.

However, Sega, buoyed by its game arcade business in Japan, posted an overall profit for the 12 months, after five years of losing money. Consolidated net income for the 12 months hit $26.3 million, compared with a net loss of $153.8 million year-on-year. Operating income dropped 34.5 percent for the 12 months, down to $80.4 million, from $122.5 million the previous year.

Consolidated sales also decreased for the year, coming in at $1.7 billion, down from $1.8 billion year over year. In a consolidated projection for current year, Sega expects first half sales of $759.1 million, and 12- month sales of $1.7 billion. Net income for the first half is anticipated at $1.7 million, with the 12- month net anticipated at $64.9 million.

PHOTOS
NATM Annual Meeting

Besides the usual business of planning out the

Ultra HD OLED TVs In IFA Spotlight

At IFA, all Ultra HD makers are quickly expanding

Jack Wayman, the Father Of International CES

Tributes continue to pour in for Jack Wayman, who

Nationwide PrimeTime 2014

Scenes from Nationwide PrimeTime buy fair held in