Com2uS sees Q1 2012 revenue up 54% to $10 million

Profits up massively but temporarily

Com2uS sees Q1 2012 revenue up 54% to $10 million
Korean mobile game publisher Com2uS (KOSDAQ: 078340) has announced its Q1 financial results for the three months ending 31 March 2012.

Revenue was 11.2 billion KRW (around $10 million), up 54 percent year-on-year.

The smartphone sector continues to be a major part of the company's success. It now accounts for 81 percent of sales, growing 183 percent year-on-year.

Operating income was up 85 percent to 516 million KRW (around $460,000).

Com2uS' net income was 3.9 billion KRW ($3.4 million), up 550 percent.

However the vast majority of this increase - 3.7 billion KRW ($3.2 million) - was due to what the company labelled a temporary gain on investment property.

Money grows on trees

In terms of specific titles, the company pointed to the success of its free-to-play social games such as Tiny Farm, which is the most popular social game in Korea, Derby Days and Magic Tree.

During the quarter, 51 percent of Com2uS' revenue came from its domestic market and 49 percent from the rest of the world.

During the quarter, it released 16 titles; 6 for iOS, 5 Android games released on Google Play, and 5 games on the Korea Tstore.

This will accelerate in Q2, however, with 39 titles planned for release, as Com2uS increases its third party publishing business on iOS and Android.

[source: Com2uS (PDF)]
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A Pocket Gamer co-founder, Jon is Contributing Editor at 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.