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Gamevil post record annual sales of $25.4 million in 2010, up 17% yoy

Gamevil post record annual sales of $25.4 million in 2010, up 17% yoy
Gamevil (KDQ:063080) has announced record financial figures for 2010.

Total sales were 28.5 billion Won ($25.4 million), up 17 percent compared to 2009.

Net income was 14.8 billion Won ($13.2 million), up 25 percent from the previous year, which marked the first time a Korean mobile games company had passed 10 billion Won.

Operating profit percentage was 54 percent and net profit percentage was 52 percent, the latter of which 4 percent up from 2009's rate, which was previously a record for the firm.

Said figures mean the firm is effectively leading the pack from a Korean perspective, posting both the highest revenue and profit in the country's games market.

Something old, something new

Gamevil claims sales were once again driven by its Baseball Superstars and Zenonia franchises, though new blood – in the form of Soccer Superstars and Illusia – also made an impression.

More interestingly, however, Gamevil's adoption of virtual goods continues to pay off – such sales made up 47 percent of the firm's total income.

"Many changes are expected in devices, networks and business models in 2011. By facing them head on, we strive to grow in both scope and revenue as a global mobile gaming company," said CFO Yong Kuk Lee.

"It's been a decade of great positives for Gameil, and we anticipate on succeeding in both mobile and social landscapes."

The firm claims its output in 2011 will more than double from the 11 games it released in 2010, with social and smartphone gaming the focus.

[source: Gamevil]
Contributing Editor

With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font.

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