FUNimation is a wholly-owned subsidiary of Navarre, having been purchased in 2005. Today, Navarre held their second-quarter fiscal 2010 conference call for the period ending 30 September 2009.

Unlike last quarter’s release and call, there was not much of interest for Dragon Ball fans. The bankruptcy of Circuit City (a “$60-odd million customer”) hurt their net sales, and their publishing segment (of which FUNimation is a part) was down to $21.4 million from last quarter’s $28.8 million. It was noted that FUNimation had a weaker release schedule this quarter, which they noted would happen last quarter (followed by an explanation at the time that Q3 & Q4 would be stronger for FUNimation). Despite this weaker release schedule, it was noted that FUNimation met internal targets for the quarter.

In the grand scheme of things, FUNimation has “56-60%” of the North American anime market share, and things remain strong for them with two competitors no longer in existence, first-dibs on many properties, and the ability to be selective about these new properties.

There you have it… your financial analysis for the second quarter of the fiscal year! Sorry it could not be more interesting, but it was a slow quarter across the board for most companies.