Square Enix has been making lots of company and IP purchases lately, but without a major game on shelves in the early part of 2011, their profits and revenue took a significant dive.

GamesIndustry.Biz and Gamasutra have the nitty gritty:

The company posted overall revenue of ¥24,529 million ($312.4m), down from ¥32,540 million in the same quarterin 2010, and net profit of ¥690 million ($87.7m), a 61.9 percent drop from last year's figure of ¥1,575 million.

In the digital division, which inlcudes the group's game business, revenue was down 29.1 per cent year-on-year to ¥11,793 million ($150.2m). Operating income declined by 51.9 percent to ¥2,834 million ($36.1m).

"In a quarter without major title releases, our group's sales and profit were lower compared to the previous fiscal year," said CEO Yoichi Wada. "At the same time, however, we are making solid progress toward our targets for the full fiscal year ending March 2012."

While at a glance, it seems like business as usual, it'll be interesting to see how Square Enix's fortunes look over the next two years. Although the publisher/developer is likely hedging their bets on Final Fantasy XIII-2, the company is smartly backing other non-traditional projects like Deus Ex,Dead Island, and the Tomb Raider reboot. In Japan, Dragon Quest X and Final Fantasy Versus XIII could perform well, too.

Here's to Christmas and 2012.