Nintendo Revises Consolidated Forecasts Upward for Shipments and Finances
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. 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. 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. 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.
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