Electronics Boutique posts second quarter financial results

US retailer Electronics Boutique has posted second quarter revenues of USD 48.3 million, up 23.9 per cent from last year's figures, along with a 17.8 per cent rise in software sales.

The company highlighted strong consumer demand for the PSP and the success of titles such as Pokîmon Emerald and Star Wars: Episode III - Revenge of the Sith as contributing factors to the increase in revenue.

But net income is down to USD 1.6 million, or USD 0.06 per diluted share. The figures for the same period last year were USD 3.9 million or USD 0.16 per share. EB blamed the drop on the forthcoming merger with fellow retailer GameStop, which incurred USD 1.4 million in pre-tax costs. The company also faced a USD 1 million net loss when it acquired Spanish retailer Jump.

EB has not adjusted its financial forecast - diluted earnings per share for 2006 are still predicted to range from USD 2.34 to USD 2.44. These figures do not take account of the Jump deal and merger costs, however.

EB's financial report also stated that the GameStop merger was likely to close around the start of October, and not at the end of the year as previously suggested.