Japanese publisher Sega Sammy has reported a net income of $189.5m for the nine months ending December 31st. The news is all the sweeter for the firm as in the same period a year before it suffered a $121.3m loss.
There were also sharp increases in operating income, which hit $322.9m – in 2008 a $30.8m loss was reported. Less positive news was to be found elsewhere in Sega’s filing, however, with net sales falling 7.7 per cent to $3.1bn.
Looking at the consumer business in isolation, a profit of $15.8m was achieved compared to 2008’s $63.1m loss. Sales fell 13 per cent to $929.8m
Unsurprisingly, Sega said the results would have been even better were it not for 2009’s economic struggles. However, a better 2010 is expected because the publisher foresees hardware price drops on the horizon.
While domestic sales were mostly firm thanks to streamlining development by narrowing down on titles, overseas sales were weaker than expected following the adverse market condition,” a company statement read.
The demand was generally weak in the US and European markets due to sluggish personal consumption. Further penetration of the current generation of game platforms with price revision and market revitalisation in accordance therewith are expected in the future.”