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Nintendo Q1 profit dives 60 percent (CVG 30/7/09

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20090731

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Nintendo Q1 profit dives 60 percent (CVG 30/7/09




Nintendo has reported heavy profit and revenue declines for the first quarter ended June 30.

Net income, or profit, fell 60.6 per cent to 42.3 billion yen ($445m/£270.8m), while revenue declined by 40 percent to 253.4 billion yen ($2.7b/£1.62b)

Operating profit was down 66 per cent to 40.4 billion yen ($425m/£358.7m).

Wii hardware sales totaled 2.23 million units during the quarter, down from 5.17 million during the first quarter of last year. Lifetime Wii sales now stand at 52.62 million.

Quarterly Wii software sales were 31.07 million, down from 40.41 in Q1 last year.

DS sales hit 5.97 million units during the quarter, compared to 6.94 million a year earlier. Lifetime DS sales now total 107.75 million.

Quarterly DS software sales were 29.09 million units, down from 36.59 million a year earlier.

Nintendo said it expects to hit its full-year sales forecast of 26 million Wii consoles and 30 million DS units.

The company reiterated its previous guidance for operating profit to fall 12 per cent to 490 billion yen ($5.15b/£3.14b) in the full business year ending March 2010.

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