Konami posts modest revenue, double-digit profit growth

Publisher's holiday-quarter results indicate 3.4 percent sales growth to nearly $900M; income grows 22.7 percent to $108.9M.

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As the holder of one of the most heavily anticipated franchises for the PlayStation 3, Konami is sure to feel a pleasant boost to its 2009 fiscal results when Metal Gear Solid 4 finally lands later this year. However, even without a new installment in the MGS franchise, the publisher continues to build on strong first half of the year results, posting marginal 3.4 percent net revenue gains of 95,987 million yen (about $899.8 million) for the holiday quarter ended December 31.

Although revenue was only slightly up, Konami saw a significantly more sizable boost in profit. Net income for the publisher's third quarter was 11,622 million yen (about $108.9 million), a 22.7 percent climb over the same period of time last year. For the first nine months of Konami's fiscal 2008, the publisher has netted income of 17,910 million yen (about $167.9 million) on 229,730 million yen revenue (about $2.1 billion), an 8.1 percent increase over the same period of time last year.

Digital entertainment led Konami's earnings for the first three quarters of its fiscal year, up 9 percent year over year to 141,140 million yen (about $1.3 billion). Sports games played the most significant role in Konami's third-quarter performance, with the publisher calling out World Soccer Winning Eleven 2008, Jikkyou Pawafuru Major League 2, and Jikkyou Pawafuru Puroyakyu 14 as top sellers in Europe and Japan. Konami also said that the Dance Dance Revolution franchise continues to sell well in North America.

Laying out its projections for its full fiscal year, which ends March 31, 2008, Konami expects revenues to be up 5.3 percent year over year to 295,000 million yen (about $2.7 billion). Likewise, Konami expects to continue its double-digit gains in income, projecting profits to rise 12.9 percent to 18,300 million yen ($171.5 million) for the full fiscal year.

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