Sega Sammy Cuts FY14 Profit Forecast Significantly

Sega Sammy Cuts FY14 Profit Forecast Significantly

by February 28, 2014

Games Aren’t To Blame This Time

Even though results through Q3 looked very promising for Sega’s parent company Sega Sammy Holdings, it appears the truth won’t be quite as rosy when the fiscal year ends in March.

That’s because Sega Sammy today revised earnings guidance downward for FY2014.  What was expected to be a $459.8 million profit is now down to $293.5 million, a more than 36 percent decline.  Sales are also expected to be off by more then 22 percent.

But it’s not Consumer Business that is dragging Sega Sammy down this time. Pachislot and Pachinko sales projections were slashed by hundreds of thousands of units.

Sega Sammy stocks fell about two and three quarters percent on the domestic pink sheets today.