Perfect World sees FY13 revenue up 10% to $504 million

First hardcore mobile game has been promising

Perfect World sees FY13 revenue up 10% to $504 million

Chinese games publisher Perfect World (NASDAQ: PWRD) has announced its unaudited financials for FY13, the 12 months ending 31 December 2013.

Total revenues were $504 million, up 10 percent year-on-year.

Net income was $89.6 million, up 0.3 percent.

Strong year's end

Looking at the company's fourth quarter performance, revenue was $151 million, up 34 percent year-on-year, or 11 percent quarter-on-quarter.

Net income was $34.7 million, down 91 percent year-on-year due to a share-based compensation charge and goodwill impairment.

Mobile launch

Perfect World pointed to the performance of its MMORPG Zhu Xian and the success of hardcore mobile title Return of the Condor Heroes - a top 10 top grossing iOS game in China - as key drivers of growth.

"While we have been pleased with the current performance of our mobile game Return of the Condor Heroes, we also launched another hardcore mobile game, Fantasy of the Immortals, which is our first 3D RPG mobile game, very recently.

"We look forward to introducing more high-quality mobile games, such as Forsaken World, to the market going forward," said CEO Robert Xiao.

Future vision

Perfect World also recently signed a strategic deal with Huawei to embed games onto its smartphones.

Yet, mobile games only make up a small proportion of Perfect World's current sales (it doesn't break out how much), which are dominated by PC games. Perfect World is preparing to release DOTA2 and Neverwinter into the Chinese market.

The company ended the quarter with cash and equivalents worth $200 million, and announced it would be paying a dividend of $24 million on the close of business on 3 April 2014.

[source: PRNewswire]

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