Navarre Announces Financial Results for 2007-2008 (Updated)

posted on by Mikhail Koulikov
Funimation's operating profit doubles, further growth expected

Navarre, the corporate parent of the anime licensing and distribution company Funimation Entertainment, has announced its financial results for the 2008 fiscal year (April 1, 2007 to March 31, 2008). According to Chief Executive Officer Cary Deacon, Funimation's operating profits "more than doubled" during that period, while net sales grew "in the double digits." He predicts that Funimation's profits will continue to increase through the rest of the year and into 2009 as well.

Some of the anime DVDs that Funimation launched during the past fiscal year include Afro Samurai, One Piece: Episode of Alabaster, several uncut Dragon Ball Z season box sets, and episodes of various other new and ongoing series.

Despite Funimation's success, overall net sales for Navarre's publishing segment, which also includes the mainstream DVD and music distributor BCI and the software company Encore, declined 7.3% for the year to US$117.4 million.

Update: Cary Deacon's spelling corrected.

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