revised earnings forecast. In an interesting turn of events, Sega has foregone the doom and gloom of having to admit it will likely earn less money during its Q4 2010 forecast -- the period between December 2009 and March 2010 -- for something a bit more on the cheery side: profits!
First, Sega estimates net sales of ¥380 billion ($4.08 billion), a 9.5 percent decline from its previous estimate of ¥420 billion ($4.51 billion) -- wait, we thought we had good news in here? Aha! Here it is: net income.
Sega previously forecast net income of ¥15 billion ($161 million), but has now adjusted that to ¥18 billion ($193 million). This spontaneous spike in cash money is attributed to "improved profit margins in the pachislot and pachinko machine business and amusement machine business." We imagine sales of Bayonetta and Aliens vs Predator also helped.
And in case you're wondering what the difference between net sales and net income is: Net sales accounts for the total profits a company makes based on the products it sells, while net income takes into account net sales and other operating costs, such as licensing fees and taxes.