News

Funimation's Sales, Profit Meet Lowered Expectations

Navarre Corporation reported its fiscal year 2008 second quarter results on November 7 and said that the net sales of its publishing segment, which includes the anime distributor Funimation, was down 22% but within expectations. The segment's sales for the period ending September 30, 2007 was US$27 million, compared to US$34.7 million for the same period last year. Navarre does not normally report Funimation's results separately, but the report did say that Funimation accounted for most of the segment's drop. One of Navarre's cited reasons for the drop was Funimation's product schedule, which is weighted towards the first and fourth quarters. Nonetheless, Funimation met sales and profit expectations for the quarter.