Ubisoft reports 52% decline in sales compared to previous year

Ubisoft's financial results for the first-half of its fiscal year ending September 30, reveal that sales for the company fell around 52 percent compared to the same time in 2008.

First half sales totals were down 51.7 percent at €166 million ($246 million), with second quarter revenue at €83 million ($123 million).

While these figures were line with company expectations, its target of €1 billion in sales for the year is expected to be met thanks to future titles on the horizon.

"As expected, in the first half of fiscal 2009-10 the market was very difficult both for Nintendo DS games and for our back-catalog titles, with few new releases," said CEO Yves Guillemot. "The second half of the year should be significantly more favorable with a return to strong growth and profitability.

"Although the environment is still uncertain and the full effect of the sharp drop in console prices has yet to be felt, Ubisoft has the advantage of a diversified and very high-quality line-up for the crucial Holiday period, including the blockbusters Assassin's Creed 2 and James Cameron's Avatar: The Game for the Xbox 360 and PlayStation 3 and a wide-ranging portfolio of very well-calibrated games for the Wii such as Your Shape, Just Dance, Shaun White and Rabbids Go Home.

"Growth is expected to be even stronger in the fourth quarter, fuelled by the launches of Tom Clancy’s Splinter Cell Conviction, Red Steel 2 and RUSE."

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