Sega Sammy Earnings Beat the Street

Sega Sammy Earnings Beat the Street

by August 5, 2008

Still a Big Loss; Pachinko Saves Expectations

Never before did a $97 million quarterly loss seem so good.

That’s what Sega Sammy has posted for their first-quarter financial figures–double the bleeding from the same period a year ago.  Sales dropped 22 percent overall.

However, it was booming sales in the company’s Pachinko division–namely 100,000 shipments of the Hokuto no Ken machine and not anything on the Sega side that helped the stock surge a total of 13 percent so far this month on the Topix exchange.  Evidently, the numbers beat analyst expectations.  On the whole, Sega Sammy shares have dropped 13 percent thus far this year, and many Japanese analysts are labeling the company as “outperform” or “market perform.”