Com2uS 2009 sales up 6.5% to $28 million, but net income drops by a quarter

Korean mobile games publisher Com2uS (KOSDAQ: 078340) has announced its unaudited financial results for its 2009 financial year, ending December 31.

Revenue for the 12 months was 31.7 billion Won ($27.9 million), up 6.5 percent compared to 2008's total.

Net income was 5.8 billion Won ($5.2 million), down 25 percent year-on-year.

Fourth quarter revenue was 7.9 billion Won ($6.9 million), up 26 percent year-on-year. Net income was 1.8 billion Won ($1.5 million), up 155 percent.

Going international

Most of Com2uS' revenue was generated in Korea, with only 12.4 percent from overseas game sales, although this was up from 3.6 percent in 2008.

Its three best selling games for the year were Super Action Hero 3, Mini Game Paradise 4 and Action Puzzle Family 2.

Com2uS released nine games in Korea in 2009 and a further eight on iPhone. It plans to release 13 games in Korea in 2010, 16 on iPhone and 10 for Android and other smartphones. It also has two online games in development.

Predicted sales for 2010 are 40.3 billion Won ($35.5 million), with net income of 118 billion Won ($10.4 million).

[source: Com2uS]