Namco Bandai cuts Q1 losses by half to $18.7 million

Namco Bandai has reported its financials for Q1 FY11, and it shows the company closing in on net losses with ¥1.6 billion ($18.7 million) compared to ¥2.8 billion ($32.9 million) during the same period of 2009.

For the three months ending June 30, sales increased 8.2 percent to 81,912 million yen ($950 million), compared to ¥75,729 million yoy.

The firm's content division, went from ¥20,210 million yen ($234 million) last year to ¥32,948 million yen ($382 million), with operating losses of ¥619 million ($7.2 million), down from ¥4,136 million ($48 million) during the same period last year.

In the full report, which can be found here, Namco laid-out plans for a more focused mix on consoles with an emphasis on exploring "worldwide as a new franchise", along with continued focus on the Tekken and Dragon Ball franchises.

New IP God Eater, which moved 600K units on the PSP in Japan will be released outside of the country as God Eater: Burst in conjunction with D3Publisher.

Namco's biggest seller was Tekken 6 for Xbox 360 and PS3 during Q1, moving 1.07 million units, with DS's Taiko Drum Master moving through 170K.

Ben 10 Alien Force 2 and Super Robot Wars (DS) moved 110K each.

Thanks, Game Investments.