On the back of strong domestic growth, Com2uS raises FY12 guidance to $65 million

Q2 sales up 158% year-on-year

On the back of strong domestic growth, Com2uS raises FY12 guidance to $65 million
Korean mobile game publisher Com2uS (KOSDAQ: 078340) has announced its Q2 financial results for the three months ending 30 June 2012.

Revenue was up 158 percent year-on-year to 22 billion KRW (around $19 million)

Net income was up 55 percent to 6 billion KRW ($5.3 million).

This means that the company has seen half year revenue up 110 percent to 33 billion KRW ($29 million).

Net income for the six month period is up 512 percent to 9.9 billion KRW ($8.7 million).

Domestic bliss

Much of this growth has come from within Korea, with domestic sales accounting for 66 percent of Q2 revenue.

Com2uS continues to point to its performance in free-to-play smartphone games as the reason for its strong growth.

During Q2, smartphone revenues were up 325 percent to 20 billion KRW ($17.5 million); 90 percent of total revenue.

Key titles include Tiny Farm, which is very popular in Korea, as well as games such as Derby Days and Aqua Story.

The company also releases paid games, with IAP - Homerun Battle 2 and Inotia 4 have performed well.


Another interesting trend is the company's increasingly publishing activity.

During Q2, it released 17 internal developed games across the Apple App Store, Google Play and the Korean-only Tstore, while also releasing 10 externally developed titles. It plans to release 16 internal games in Q3, and 7 external games.

The result of these trends is Com2uS has raised its guidance for 2012 to 74.1 billion KRW ($65 million) in terms of revenue, and 16.3 billion KRW ($14 million) for net profit.

[source: Com2uS (PDF)]
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