Slowly crawling out of the dark hole
Looks like the recent restructuring and lay off Sega did earlier this year are finally paying out. Sega has released today their financial reports for the first half of 2012’s financial year and it’s shows a slight economic recovery.
It is still losing money, but it’s operating loss of ¥780 million ($9.7m/£6m/€7.6m) its a great improvement over the 6 billion loss from last year. The domestic game division is only a third of the company’s total revenue, but it has generated an increase of 5.6 per cent over the same period last year.
Sega’s consumer business generated revenues of ¥35.7 billion ($445/£276m/€346m) it’s still not enough to save the company, who’s entire revenues were down 10 per cent year-on-year to ¥136.6 billion ($1.7b/£1.1b/€1.3b), but the restructuring and cost-cutting measures led to a 2.7 per cent increase in profits to ¥3.9 billion ($48m/£30m/€27m).
It’s a slow recovery, but we’re seeing new ray of light coming for the future of Sega.