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Gamevil's Q1 2014 profits up 104% to $3.7 million

A record period for the Korean publisher
Gamevil's Q1 2014 profits up 104% to $3.7 million
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Korean mobile publisher Gamevil (KOSDAQ:063080) has announced its Q1 2014 financials, a period in which it boasted record earnings.

Gamevil posted sales of $27.2 million (27.8 billion KRW), an operating profit of $3.7 million (3.8 billion KRW), and $3.5 million (3.6 billion KRW) in net profit.

Its Q1 sales were up about 75 percent from Q1 2013's sum of $15.5 million, although its net profit in Q1 2014 was down 25 from Q1 2013's total of $4.7 million.

Still, all three figure are up quarterly from Q4 2013 with sales, operating profit, and net profit increasing by 24 percent, 104 percent, and 28 percent (resp.)

More growth expected

Gamevil's Q1 profits come after an aggressive second half of 2013, which saw the Korean publisher unveil a $130 million warchest for international investments and acquisitions that ultimately led to its acquisition of Korean rival Com2us.

Gamevil expects a strong Q2 2014, as it has eight mobile titles scheduled to launch in this period - including the fully-licensed baseball management simulator MLB Perfect Inning and RPG titles like Elements: Epic Heroes and Fantasy Warlord.