Nintendo's First-Quarter Profit Rises Fivefold on Wii, DS Sales

[DarkNight_DS]

FishyJoe said:

More info:

http://blogs.mercurynews.com/aei/2007/07/nintendo_ups_forecasts_again.html

The news at Nintendo just keeps getting better. The Kyoto, Japan-based company said that it is revising its Wii sales forecast for the fiscal year that ends March 31, 2008, to 16.5 million from a previous forecast of 14 million consoles shipped. Wii software is expected to hit 72 million units shipped, compared with an earlier forecast of 55 million units. The forecast to the DS was increased to 26 million from 22 million earlier, while DS software is expected to ship 140 million units, compared to 130 million earlier.

Nintendo Co., Ltd., today announced consolidated first-quarter financial results (*see attached) for the three-month period between April and June 2007, highlighted by revised upward annual forecasts in hardware and software shipments for the popular Wii and Nintendo DS game systems.

The company had substantial increases in consolidated net sales, operational, recurring and net profits as compared to the same reporting period one year ago thanks to robust sales of Wii and Nintendo DS hardware and software.

Consolidated financial results for April-June 2007 in millions of yen:

April-June 2007 April-June 2006 % change
Net Sales 340,439 130,919 160.0
Operating Income 90,631 28,802 214.7
Recurring Profit 131,449 32,670 302.3
Net Income 80,251 15,551 416.0

Additional highlights of the report include:
· Nintendo boosted projections for shipments of Wii and Nintendo DS hardware and software for the fiscal year ending March 31, 2008. Nintendo’s consolidated shipments reflect sales to distributors and retailers worldwide.
o The forecast for Wii hardware shipments increases to 16.5 million from a previous forecast of 14 million, while Wii software increases to 72 million from a previous forecast of 55 million.
o The forecast for Nintendo DS hardware shipments increases to 26 million from a previous forecast of 22 million, while Nintendo DS software increases to 140 million from a previous forecast of 130 million.
o In the unit shipment results for both Wii and Nintendo DS, bundles are counted as separate pieces of hardware and software. When forecasting unit shipments, the hardware and software results for past periods are included as separate pieces, but future bundles are counted as hardware only.
· Nintendo announced worldwide sales of Wii hardware reached 9.27 million units at the end of June 2007. Sales of Nintendo DS hardware reached 47.27 million worldwide at the end of June 2007.
· Upward revisions made to sales, shipments and profit forecasts are due to expected continued robust sales of Wii and Nintendo DS.
Revised consolidated financial forecasts in millions of yen:

Half-Year Forecast Original Modified % Change
Net Sales 460,000 640,000 +39.1
Operating Income 85,000 160,000 +88.2
Recurring Profit 85,000 180,000 +111.8
Net Income 50,000 105,000 +110.0

Full-Year Forecast Original Modified % Change
Net Sales 1,140,000 1,400,000 +22.8
Operating Income 270,000 370,000 +37.0
Recurring Profit 290,000 410,000 +41.4
Net Income 175,000 245,000 +40.0

Nintendo has also modified expected exchange rates to 118 yen/dollar and 155 yen/euro from 115 yen/dollar and 150 yen/euro.

The expected annual dividend per share is now 960 yen.

 

 That's 22+ Million Wii's shipped and delivered by March 31st 2008!