Konami profits $51 million from social success
Publisher has problems living up to Metal Gear Solid: Peace Walker, sees steep decline in unit sales of traditional games offset by growth in free-to-play digital card games.
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Konami posted its financial results for the April-June quarter today, showing increased sales and profits as gains in the social gaming sector managed to offset the lack of a new Metal Gear Solid title from the publisher.
The most notable figure coming from the company's first fiscal quarter was a steep drop in the number of games sold. During the April-June quarter of 2010--when Metal Gear Solid: Peace Walker debuted on the PSP--Konami sold 4.63 million games globally. However, the same quarter this year yielded just 2.76 million units sold, with most of the slide attributable to fewer sales in the Metal Gear and Pro Evolution Soccer franchises.
However, Konami's digital entertainment division still managed to post increased sales and profits for the quarter, thanks in large part to the success of its Japanese social games. The publisher cited mobile free-to-play digital card games Dragon Collection, Sengoku Collection, and Professional Baseball Dream Nine as some of its most steadily growing social franchises.
For the first fiscal quarter, Konami reported revenues up 3.3 percent year-over-year to ¥54.9 billion ($695 million). Meanwhile, the company's net income more than tripled to just over ¥4 billion ($51 million). For the full year ending March 31, 2012, Konami expects sales to be flat at ¥258 billion ($3.3 billion), with a net income up nearly 26 percent to ¥24 billion ($304 million). Its biggest releases for the remainder of the fiscal year include Metal Gear Solid: Snake Eater 3D for the 3DS, Pro Evolution Soccer 2012, NeverDead, and Silent Hill: Downpour.
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