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Square Enix returning to profitability in 2014 fiscal year

Samit Sarkar (he/him) is Polygon’s deputy managing editor. He has more than 15 years of experience covering video games, movies, television, and technology.

Square Enix is continuing its efforts to effect a turnaround after a disastrous 2013 fiscal year, and the plan is producing solid results so far in the first three quarters of the company's 2014 fiscal year, Square Enix announced today.

The publisher tallied net sales of 102.47 billion yen ($1.01 billion) during the nine-month period ending Dec. 31, 2013. Although that figure represented a decrease of 0.3 percent from the same period in 2012, Square Enix recorded an operating income of 7.82 billion yen ($77.23 million) and a net income of 5.18 billion yen ($51.15 million) during the three fiscal quarters. In the same period one year prior, the company suffered an operating loss of 4.85 billion yen and a net loss of 5.75 billion yen.

According to Square Enix, positive results during the nine-month period were led by strong sales of console games in North America, as well as "favorable progress" in software sales and operation of Final Fantasy 14: A Realm Reborn. The company still expects its forecasts for future performance to fluctuate for the time being, since it is in the midst of enacting reforms to its business structure.

Square Enix left its guidance for the full 2014 fiscal year, which ends March 31, 2014, unchanged. It still expects net sales to fall between 140 billion yen and 150 billion yen; operating income between 5 billion yen and 9 billion yen; and net income between 3.5 billion yen and 6 billion yen.

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