Square Enix Reduces Forecasted Earnings
Role-playing powerhouse Square Enix has announced that it is reducing its earnings forecast. For the period spanning April 1 through September 30, the company has lowered its net earnings estimate down to 2,600 million yen (or about 28.7 million USD), down from its original projection of 7,500 million yen.
This reduction is not necessarily a cause for trepidation among Square Enix fans. The revision is due to costs tied to the company’s acquisition of Eidos early this year, as well as money set aside for voluntary retirement programs.
In fact, while the net earnings numbers are down, the company actually increased its sales projections by 500 million yen. The release of Final Fantasy XIII in North America – though it hasn’t officially been dated – could potentially fall within that timeframe, and could be one reason for Square’s optimism when it comes to next year’s sales.
Stay tuned…if the company’s past is any indication, we’ll probably see several more spin-offs of these financial projections in the months to come.