Lack of Metal Gear Brings Konami Profits Down 94%
Many publishers are feeling the pinch of the economic decline over the past few quarters. Konami is not alone, although it did manage to post a meager $3.83 million profit. The company’s profits fell 94 percent from the same quarter in 2008 when the PS3-exclusive Metal Gear Solid 4 was blazing off of store shelves and shifting hardware in a limited edition bundle.
Revenue for the company was down a less substantial amount (22 percent) at $585 million. The company blamed the turn of fortunes on a comparatively weak game lineup. New games in the Power Pro Major League series and Winning Eleven topped sales for the quarter. The same quarter last year the company sold 3.94 million Metal Gear games (160,000 this year).
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