South Korean publisher Gamevil (KDQ:063080) has announced its Q1 FY12 figures for the 3 months ending 31 March 2012.
Sales were 16.6 billion KRW (around $14.7 million), up 160 percent year-on-year.
Operating profit was up 131 percent to 6.2 billion KRW (around $5.5 million).
Net profit was up 105 percent to 5.2 billion KRW (around $4.6 million).
The company also announced that it's hit a cumulative total of 120 million downloads.
No barrier to entry
The reason backing such success is that Gamevil's revenue is now almost all generated from its free-to-play smartphone games.
For the quarter, 91 percent of revenue came from in-app purchases, while 92 percent came from iOS and Android products.
The company is positioning itself as more of a publisher too, with 40 titles to be released in 2012; 16 titles in the second half of 2012. Of these, five will be internally developed, and 11 from independent developers.
In this way Gamevil is combining the foundation of its key, regular titles such as Zenonia and Baseball Superstars, with third party-developed successes such as Air Penguin and Cartoon Wars.
It bought the latter as an IP deal in late 2011.
Comes with friends
"Publishing third party titles has allowed Gamevil to explore a wide variety of genres and has continuously contributed to the financial growth of the company." stated CFO Yong Kuk Lee.
"Now that publishing titles on Apple's App Store and Google Play has been gaining momentum this past quarter, we are very pleased to see strong growth throughout global markets."
[source: Gamevil]
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.
Top Stories
News
2 hours, 56 minutes ago
BBC Studios hires former Bossa Studios CEO Marina Mello as first global director, gaming and interactive
News
8 hours ago
Red Games Co's Brian Lovell on their Apple Design Award Win: “Inclusivity was a focus from the beginning"
Feature
6 hours, 44 minutes ago
Mobile Mavens: Are today's everlasting, live ops games holding back new innovation?
Feature
8 hours, 12 minutes ago
The key takeaway from Apple's AI-laden WWDC keynote? It's time to buy a new iPhone
Events
Tribeca Games Festival 2024 | North America | Jun 5th |
Steam Next Fest: June 2024 Edition | Jun 10th | |
WN Conference Istanbul 2024 | Jun 11th | |
GamesForum Hamburg 2024 | Europe | Jun 11th |
ESI London 2024 | Europe | Jun 13th |
Game Con Canada (GCC) 2024 | North America | Jun 14th |
Indie Dev Play 2024 | Europe | Jun 14th |
DevGAMM Vilnius 2024 | Europe | Jun 14th |
Popular Stories
Interview
Jun 5th, 2024
A galaxy far, far away… Why Star Wars: Hunters took six years to hit the target
as
Feature
Jun 3rd, 2024