Gamevil has a record quarter, sees Q3 sales up 66% to $14.9 million
Revenue was up 66 percent year-on-year to 16.6 billion KRW (around $14.9 million); a record for the company.
This was split 65 percent from sales in Korea to 35 percent from Gamevil's global business.
Net profits were up 21 percent to 4.9 billion KRW (around $4.4 million).
The main reason for the growth was the large number of titles that Gamevil is currently releasing, in part due to the success of its $10 million publishing fund.
During 2012, it expects to release 46 games, both internally and externally developed.
In terms of Q3 performance, Gamevil highlighted the performance of social games such as Fishing Superstars, Monster Warlord and Kingdom Royale, alongside its regular portfolio of RPGs and sports games.
Externally developed games accounted for 45 percent of Q3 sales.
In total, what Gamevil calls its 'social games' accounted for almost 40 percent of Q3 revenue, while it's looking to the release of RPGs Zenonia 5 and Baseball Superstars 2013 to continue this growth into Q4.
"The mobile game industry is constantly growing and changing rapidly," commented CFO Yong Kuk Lee.
"It's important that as a company we strategically respond quickly to the market changes and maximise our operations and capabilities with first and third parties. We are excited for the next quarter as we continue to work hard and grow."