Sega Quarterly Profits "Better than Expected"

This article comes from Highwaygames.com

Japanese video-game maker Sega Corp. said yesterday it earned 1.89 billion yen ($15.8 million) on better-than-expected sales of game software and arcade machines in its first fiscal quarter.

The Tokyo-based creator of "Sonic the Hedgehog" provided no comparative figures for the same quarter last year because this was the first time it reported quarterly earnings.

But the company said sales and profits were better than initially expected. Sega posted sales of 42.4 billion yen ($353 million) for the April-June period.

It reaffirmed its forecast of a profit of 7.5 billion yen ($62.5 million) on 193 billion yen ($1.6 billion) in sales for the year through March 2004.

SOURCE: Associated Press

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