Capcom’s grim earnings report boosted by $79.2M in mobile revenues

Capcom has reported sluggish financial results at the end of its 2012 fiscal year, but mobile earnings from its Beeline unit continued to be a bright spot for the company, climbing 56.6 percent year-over-year to hit 6.3 billion yen ($79.2 million) in net sales. Capcom’s mobile net income rose 74.6 percent year-over-year to 2.3 billion ($28.9 million).

The Japanese company highlighted the performance of Snoopy’s Street Fair, which was particularly popular in Japan and Asia. The the userbases on the Mobage title Minna to Monhan Card Master and GREE’s Monhan Tankenki Maboroshi no Shima both passed 1 million members as well.

Capcom’s mobile strategy of producing casual free-to-play games based on popular franchises has been paying off well for the company. The company’s Beeline unit has turned well-known IP like Peanuts and The Smurfs into some of the highest grossing titles on Google Play and the iTunes App Store. The Beeline mobile-social gaming unit has now seen over 56 million downloads worldwide, up from the 46 million the company reported in February.

Overall however, the Beeline unit is a small part of Capcom’s business, which saw sluggish sales and income for its 2012 fiscal year. Between April 2011 and March 31, 2012 net sales declined 16 percent  year-on-year to 82.06 billion yen ($1.03 billion). The company’s operating for the period was 12.3 billion yen ($154.6 million), a decrease of 13.8 percent over last year’s earnings.  Capcom’s earnings were hurt by declines in its console games business, which saw net sales fall 23.9 percent year-on-year to 53.5 billion yen ($672.7 million), as well as drops in its arcade and licensing operations.

The company is forecasting 105 billion yen ($1.3 billion) in net sales and 15.8 billion yen ($198.6 million) in operating income for the fiscal year ending on March 31, 2012, based on the expected strong performance of its online content and businesses.