Japanese publisher Square Enix believes it is on track to see an increase in both net sales and net income for the current financial year.
That’s despite posting an operating loss of 1,163m for the three months ending June 2012, which is down from the 2,178m profit posted in the same period last year.
A net loss of 2,077m was also reported (down from the 690m profit last year) although sales climbed 1.6 per cent to 24,914m.
It now predicts a 29 per cent jump in full-year sales to 165,000m and a 48.5 per cent increase in net income to 9.000m.
The poor quarterly results were attributed to weak” sales of console games, although smartphone titles and Dragon Quest Monsters Terry No Wonderland 3D were favourable”.
Sales at the company’s games division fell 3.9 per cent to 11,336m. it also reported a 111m operating loss, down from the 2,834m profit reported in 2011.