Korean mobile games publisher Com2uS (KOSDAQ: 078340) has announced its unaudited financial results for Q1 2011, for the three months ending March 31.
Revenue was 7.3 billion Won ($6.8 million), up 6 percent compared to Q1 2010.
Operating income 460 million Won ($0.4 million), while net income was 600 million Won ($0.6 million), down 53 percent year-on-year.
Testing times
The company has been experiencing a difficult transition as its core feature phone games business in Korea switches to smartphone. As part of this, it's also looking to rapidly expand its international business, although this remains a relatively small proportion of its revenue total.
Games released during the period include endless runner Zombie Runaway and RPG Third Blade, but, amongst others, music game Touch the Beat was delayed.
Com2uS also said profits had been hit as it invested hiring additional developers and setting up new teams.
During the three months, net cash flow was a negative $0.7 million, leaving the company with cash and cash equivalents of $3 million.
[source: Business Week]
News
Contributing Editor
A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.
Related Articles
Interview
Apr 9th, 2024
Saga CEO Rebecca Liao on the launch of publishing division and mass market web3 games
Top Stories
News
May 4th, 2024
PocketGamer.biz Podcast Week in Views E10 - Brawl Stars smashes 2023 revenue, Square Enix’s extraordinary losses, and Haaland signs for Clash of Clans
News
May 3rd, 2024
Week in Views - Apple back themselves bigstyle, Clash bags Haaland and dreams come true at King
Events
Mobidictum Meetup Berlin May 2024 | Europe | May 7th |
Valencia Indie Summit 2024 | Europe | May 16th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Israel Mobile Summit 2024 | Middle East | Jun 6th |
WN Conference Istanbul 2024 | Jun 11th | |
DevGAMM Vilnius 2024 | Europe | Jun 14th |
Develop: Brighton 2024 | Europe | Jul 9th |
Mobidictum Meetup Barcelona September 2024 | Europe | Sep 1st |