Korean mobile games publisher Com2uS (KOSDAQ: 078340) has announced its financial results for FY 2010.

Total revenue for the year was 28 billion Won ($25 million), down 12 percent compared to $28 million in 2009.

Net income was 4.07 billion Won ($3.6 million), down 31 percent year-on-year.

Revenue during Q4 was 7.9 billion Won ($7 million), up 6 percent year-on-year, while net income was 1.2 billion Won ($1.1 million), down 31 percent year-on-year.

The good news however is that the publisher is seeing strong growth in smartphone game sales; up 235 percent year-on-year to 7.6 billion Won ($6.8 million).

This made up 27 percent of Com2uS' sales during 2010, and was led by titles such as Slice it! and Homerun Battle 3D.

Future's bright

Building on this base, the company predicts it will have sales of 43.3 billion Won (around $38 million) in 2011, which would be 40 percent growth on 2010's total.

It's also targetting smartphone sales of 25.9 billion Won (around $23 million).

This would be driven by the planned release of 31 iOS games, the expansion of in-app purchasing and in-game advertising, as well as the release of mobile MMOGs, social games, and games for tablets.

[source: Com2uS]