Gamevil enjoys year on year sales growth of 14% in Q3 2010

Stay Informed

Get Industry News In Your Inbox…

Sign Up Today

South Korean publisher Gamevil (KDQ:063080) has revealed sales rose 14 percent in Q3 2010, hitting 6.60 billion Won ($5.9 million) across the quarter.

Both operating income and net income were also up as a result the former up 6 percent, the latter 11 percent - topping 3.39 billion Won ($3.0 million) and 3.15 billion Won ($2.8 million) respectively.

Goods equal gains

The publisher claims sales in Q3 2010 were pushed by releases such as ZENONIA 3 and Baseball Superstars in 2010, with the firm's high profit margin maintained due to sales of virtual goods and an expansion to multiple formats.

"We're aggressively expanding to multiple platforms including feature phones, smartphones, tablets, portable gaming devices as the landscape is rapidly changing." said Gamevil CFO Yong Kuk Lee.

"We'll continue to grow and maintain our high profit margin by pursuing these new opportunities."

Year to remember

Gamevil has also seen growth in 2010 as a whole.

Yearly sales currently stand at 19.62 billion Won ($17.6 million) up 28 percent compared to the same period last year.

Operating income is also up 28 percent to 10.46 billion Won ($9.4 million) and net income has risen by 38 percent to 9.92 billion Won ($8.9 million).

Gamevil claims further smartphone titles will follow in both domestic and global markets, with its first web-based social network game set to launch before the end of 2010.