Atlus reports first quarter losses

Publisher Atlus has announced a loss of 274 million Yen (2 million Euro) in the first quarter of the year, as poor sales and stiff market competition in the three months to June 30th eroded the firm's revenues - but it hopes to turn that around in the current quarter.

The launch of several key new titles in the current quarter should power a reversal of fortunes, with Digital Devil Saga: Avatar Tuner doing well in the Japanese charts this week, and an update to the Shin Megami Tensei franchise due before the end of the year.

All in all, Atlus hopes to report a profit of 80 million Yen (600,000 Euro) in the first half of the financial year, with a 250 million Yen (1.86 million Euro) profit projected for the year end on March 31st, 2005.