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Square-Enix bracing for big financial losses

Jef Reahard
By all accounts, Square-Enix has had a rough year. Lukewarm reception of its Final Fantasy XIV MMORPG last fall, followed by the devastating Japanese earthquake and tsunami this spring, have conspired to paint a bleak portrait of the gaming giant's immediate financial future. Gamespot reports that Square-Enix has warned investors to brace for a $148 million loss for the year-long period that ended on March 31st, and the figures indicate an alarming reversal of fortune when measured against the previous year's $117.44 million profit.

The data come on the heels of a down-beat full-year financial outlook issued last February and also stem from what the company calls "tightened selection regarding title lineup." Translation: SE has trimmed some fat from the development budget, notably an FPS named Gun Loco that was originally planned for the Xbox 360. You can read the full report at Gamespot.