Boom times for Com2uS with 2012 profits up 393% to $19 million

Sales up 112% to $72 million

Boom times for Com2uS with 2012 profits up 393% to $19 million
Korean mobile game publisher Com2uS (KOSDAQ: 078340) has announced its financial results for the 12 months ending 31 December 2012.

Revenue for 2012 was up 112 percent year-on-year to $72 million, (76.9 billion KRW).

Net income for the year was up a massive 393 percent to $19 million, (20.5 billion KRW)

Driven by Korea

Driven by very strong growth in the Korean mobile market - thanks to general Android activity and the rise of the Kakao social mobile network, Com2uS also had a good Q4 period.

Revenue was up 89 percent to $20 million (21.2 billion KRW), while net income was up 145 percent to $2.8 million (3 billion KRW).

Due to delays to some titles, revenue was actually down quarter-on-quarter, though.

In terms of Com2uS' best performing titles, its social game Tiny Farm generated what the company called stable revenue, while titles such as Homerun King, Derby Days and Tiny Pang have also been re-released with support for Kakao (a mobile text and voice service) to great success.

Bringing it all home

Indeed, such is the boom in the Korean mobile games market and Com2uS' focus on it that it's now witnessing a decline in its overseas sales.

During Q4, these were worth $6.3 million (6.7 billion KRW), down 17 percent compared to overseas sales in Q3.

Of course, over the whole of 2012, international sales were up year-on-year in absolute terms, however.

Big year

As for 2013, Com2uS has predicted sales of $94 million, (101.6 billion KRW); up 32 percent compared to 2012's total.

Of this, it expects Korea to make up 65 percent of sales.

Net profit is predicted to be $22 million (24.1 billion KRW).

During the next 12 months, it plans to release around 50 new games, of which 17 will be third party publishing deals; an area the company has been rapidly expanding in recent months.
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