It’s a bit difficult to know why at the moment, because Sega Sammy’s release of its Q3 earnings report today on its website leads to a 404 error as of this article’s publication. But reports suggest the mothership has significantly revised down its profit forecast, and that sent shares of the company way down on the pink sheets today.
A third party report relaying the release suggests poor pachislot sales and delays of other pachislot titles has forced Sega Sammy to adjust its expected net income from $430.6 million to $134.5 million. That’s a drop of more than 68 percent.
The company’s stock closed in Japan down more than 6.6 percent early this morning, but in the US markets, the fall was much worse. At one point earlier today, SGAMY was down more than 27 percent to a new 52 week low of $3.10 a share, lows not seen since the Spring of 2010. The stock has since recovered in trading and is now down only more than 11 percent as of this article’s publication, at $3.78 a share.
Because of the current unavailability of the official reports, data is scarce. There are some additional facts and figures to share, and we’ll have them for you shortly.