Sega full-year loss to widen
PrintDreamcast price cuts nuke profits
Posted in Business, 24th November 2000 10:33 GMT
Free whitepaper – PowerEdge M1000e, M600 and M605 spec sheet
Sega today posted a ¥17.98 billion ($163.11 million) loss for the six months to 30 September, in line with the company's expectations.
As Sega had warned earlier, its attempt to revive flagging sales of its Dreamcast console by slashing prices and offering cash rebates knocked the company's earnings for six, turning an expected profit into a loss.
Sega's warning, made late last month, covered the full fiscal year. It said it will lose ¥22.1 billion for the full year to March 2001, very different from the ¥1.5 billion profit the company originally said it would see. Fiscal 2000 ended with a loss of ¥42.88 billion, and the company hoped to turn that around with a series of cost-cutting measures.
It didn't help though. Indeed, Sega today said that it now expects its full-year loss to widen, to ¥23.6 billion.
For the first six months of fiscal 2001, Sega saw sales static at ¥127 billion. ®
Related Stories
Sega to turn ¥1.5 billion profit to ¥22.1 billion loss
Price cut sends Dreamcast sales through roof
Free whitepaper – Blade learning lab and technical community
Analyst Keynote: The Register Agile Data Center Summit
Automating the Acquisition Process with Enterprise Level CRM
Checklist: Midmarket ERP Solutions
Analyst Keynote: The Register Agile Data Center Summit
Hosted CRM Can Be Your Secret Weapon to Success!
Dirty, dirty PCs: The X-rated picture guide
Top 500 supers - rise of the Linux quad-cores
Early adopters bloodied by Ubuntu's Karmic Koala
Sign up, sign up for The Register IT security newsletter