Square Holding Tight as Abysmal Losses are Announced
Japan-based SquareSoft has announced losses that would make even the most light-hearted of its short-tempered shareholders grit his/her teeth.
This year, the company will have lost a staggering $82 million in the production, release and subsequent flop of its film, Final Fantasy: The Spirits Within. For the half year Square said it has lost $30 million, as a result of the continued marketing of the film and its withdrawal for all film projects.
More bad news followed, as Square announced that its overall sales were down for the half year by an unsettling 14%. This must give the company something akin to the willies, as shifting games is the core business to which it has retreated. Total sales were calculated at $158 million.
In a somewhat frustrating move, Square again refused to state how many Final Fantasy X units it has shipped, even though the shareholder conglomerate has requested the information once before. Square stated that over 2.5 million units have shipped but said that it wanted to calculate the American and eventual European success of the title before issuing any definitive figure.
More bad news followed, as Square announced that its overall sales were down for the half year by an unsettling 14%. This must give the company something akin to the willies, as shifting games is the core business to which it has retreated. Total sales were calculated at $158 million.
In a somewhat frustrating move, Square again refused to state how many Final Fantasy X units it has shipped, even though the shareholder conglomerate has requested the information once before. Square stated that over 2.5 million units have shipped but said that it wanted to calculate the American and eventual European success of the title before issuing any definitive figure.
Companies:
Square
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