Nintendo posts fair earnings as Wii demand slumps

nintendo-logoThe Japanese-based video game giant, Nintendo, published [PDF] fiscal earnings today, posting a decline in total profits and slumping sales of its hugely popular Nintendo Wii gaming platform.

Nintendo reported sales net of all charges of 1,434.3-billion yen, compared to $1,838,622 YoY. Operating profit in the period were 356.5-billion yen, with the company earning net income of 228.6-billion yen, compared to 279,089 YoY.

Total assets in the period as at March 31, 2010 were 1,760,986 yen, down 2.75-percent from the same period in 2009.

ROE for the year ended March 31, 2010 was 17.7-percent, down from 22.5-percent in the same period last year, while income per share dropped to 1,787-billion in 2010, down from 2,182-billion yen.

 The company says it sold 20.53-million units of its flagship gaming device, the Wii, selling aggregately 70.93-million units of the device worldwide to date.

The company said in a statement today, “business performance was negatively impacted by a price reduction on Wii hardware, fewer strong Wii software titles in the first Half and appreciation of the yen.”

Nintendo continues to face fiercer competition from main rivals Microsoft and Sony, who each offer higher-end gaming consoles for a marginally higher price after both rivals slashed their prices (particularly Microsoft) to help increase sales.

Nintendo lastly dropped the price of the Wii by USD $50 in late 2009, bringing the total price of each unit down to $199.99.

The Nintendo stock (OTC:NTDOY) is currently trading 1.26-percent down to $40.81 per share in late after hours trading, with North American trading scheduled to start in just under two-hours.

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Peggy holds a Bachelor Arts degree with honors in Economics from York University in Toronto, Canada. She is a Certified Management Accountant (CMA). She has also passed Level I of the Chartered Financial Analyst (CFA) Program. She is also a realtor. Write to [email protected]
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