Navarre Second Quarter Conference Call

posted on by Christopher Macdonald
Funimation Leads Publishing Segment to a 9.1% increase

In Navarre's recent second quarter conference call, Funimation was credited with propping up the publishing segment's revenue.

Navarre's net sales for the second quarter fiscal-2007 were $173.1 million, a 9.5% increase over second quarter fiscal-2006. Gross profit was $30.7 million an 8.1% increase. In the publishing segment, which comprises of Funimation, BCI and Encore, net sales were $34.7 million, a 9.1% increase. J. Reid Porter, executive vice president and chief financial officer, stated "The publishing segment's net sales growth was lead by the results at Funimation, which benefited from two movie releases (Dragon Ball Z Movie 13 and Fullmetal Alchemist: The Conqueror of Shambala) and solid catalog sales. Offsetting this increase were lower sales in publishing software and non-anime dvd categories as compared to the 2nd quarter last year."

Eric Paulson, Navarre's Chairman and CEO, states that "[We are] very pleased to report that Funimation had a strong quarter. We are optimistic about the progress we continue to make at Funimation and are excited about Funimation's future. Today the Funimation Channel reaches some 28 million households and is part of their aggressive marketing program for all their current and new releases. Funimation's net sales was however partially offset by BCI and Encore. In publishing I continue to be optimistic about our upcoming releases including titles like Afro Samurai from Funimation."

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