As the economy slumps, not all publishers are treading water. Last week, Marvelous Entertainment released their earnings report for the past fiscal year ending on March 31, 2010. Sales for the small Japanese publisher were ¥8.3 billion ($90.8 million), down from ¥10.1 billion ($110.6 million) during the same period last year. The company posted a net loss of ¥1.6 billion ($17.5 million), slightly larger than last year’s loss of ¥1.2 billion ($13.1 million).
Marvelous forecasted the loss in January of this year. In response, the company sold off Rising Star Games, its European subsidiary, to Amuse Capital and cut executive salaries across the board. This cut in salaries is the second that Marvelous has instituted since March of 2009. The publisher came in slightly ahead of their lowered forecasts for the year.
This year, the company is forecasting lower sales of ¥6.5 billion ($71.2 million) and a rise in profits to ¥90 million ($985,491). The company plans to ship 400,000 units across 10 titles for the fiscal year. Four of the titles will be for Sony’s PSP platform, with half of the projected units sold being across those titles. Last year Marvelous shipped 660,000 units across 20 titles, including No More Heroes 2.
