Computer and Video Games has word that third quarter profits at Square Enix are down 76.6% and sales are down 27.5% over the same period last year (thanks Joao). Further, GamesIndustry.biz (registration required) notes that the Japanese publisher/developer's full year profits are projected to be down 89% over the prior year. This is attributed to "intensifying competition in the console game market," by Yoichi Wada, Square-Enix president, who looks forward saying: "the company has implemented organisational changes in the third quarter while also working to better select and further strengthen our most competitive titles." The downturn comes in spite of word that Kane & Lynch 2 and Dragon Quest Monsters Joker 2 sold over one million copies each during the quarter.