GREE sees Q1 FY11 sales up 82% to $153 million

Japanese social gaming company GREE (TYO:3632) has announced its Q1 FY11 financials for the three months ending September 30.

Net sales were ¥12.4 billion ($153 million), up 82 percent compared to Q1 FY10.

Operating profit was ¥6.2 billion ($77 million), up 58 percent year-on-year.

Net income was ¥3.7 billion ($46 million), up 74 percent.

Driving the biz

During this period, GREE increased its userbase on mobile and PC to 22.5 million. The GREE platform hosts around 100 games from 60 developers.

The company said it planned to "add new social games, expand its menu of contents with monthly frees, and increase and stabilise profits from paid services."

GREE ended the quarter with ¥16.97 billion ($210 million) in cash and cash equivalents, down ¥4.4 billion ($54 million) from its total on June 30.

[source: GREE (PDF)]