Nintendo Annual Profit Declines 66%

TOKYO ( TheStreet) -- Nintendo said its annual profit fell for the second straight year on weaker sales of the DS handheld game and Wii console.

Nintendo said profit for the year ended March 31 fell 66% to 77.6 billion yen ($945.4 million).

Sales for the fiscal year declined 29% to 1.014 trillion yen.

Nintendo said sales of the non-3D version of the DS fell to 17.5 million units, down about 10 million, while sales of the Wii console fell to 15.1 million from 20.1 million.

The company said it expects sales of the DS and Wii to decline further next year.

Nintendo said it would unveil a new Wii console in June.

Nintendo said operating profit for the year ended March 31 fell 52% to 171.08 billion yen. The company expects operating profit of 175 billion yen for the year ended in March 2012. Analysts surveyed by Thomson Reuters expect operating profit of 215.8 billion yen.

-- Written by Joseph Woelfel

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