Com2uS sees FY13 Q3 sales down 28% to $15 million

Domestic sales suffer strong downturn

Com2uS sees FY13 Q3 sales down 28% to $15 million

Korean mobile game publisher Com2uS (KOSDAQ: 078340) has announced its preliminary Q3 FY13 financial results, for the three months ending 30 September 2013.

Revenue was $15 million (KRW 16.1 billion), down 28 percent year-on-year.

Net income was $1.1 million (KRW 1.2 billion), down 83 percent.

Local difficulties

Com2uS was hit hard in its domestic market, with Korean sales down 42 percent year-on-year to $7.5 million (KRW 8.1 billion).

Twelve months ago, it posted record sales on the back of KakaoTalk's boom. 

Now, revenue from previously successful titles such as Tiny Farm and Heroes War declined. Additionally, service fees increased due to the 30 percent cut of post-app store revenues taken by KakaoTalk, and royalty costs from licensed games also grew.

In contrast, helped by the performance of titles such as Golf Star and 9 Innings, international sales were only down 6 percent to $7 million (KRW 7.5 billion).

Looking forward to Q4, Com2uS expects to be releasing 12 games, as opposed to the seven released in Q3.

[source: Com2uS]

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