Korean free-to-play publisher Nexon (3659.TO) has announced its financials for the 12 months ending 31 December 2012.

Total consolidated revenues were ¥108 billion (around $1.25 billion), up 24 percent year-on-year.

Net income was down 1 percent to ¥25.4 billion ($292 million).

Up and down

In terms of the Q4 figures, total revenues were ¥30.9 billion ($356 million), up 39 percent year-on-year.

The biggest growth areas for the company, which floated on the Tokyo stock exchange in late 2011 were Japan (up 172 percent) and China (up 34 percent). These are Nexon's largest two markets.

Revenues from North America and Korea declined.

The company made a net loss for the quarter of ¥94 million ($1.1 million).

It said this was due to a write down in various investments including JC Entertainment, and an increase in Korean taxes, following a change in the tax code.

Mobile promise

In terms of Nexon's mobile operations, it will be breaking out its mobile and PC operations in future financials.

For Q4, however, it merely listed the financials for gloops, the Japanese mobile publisher it spent $470 million acquiring in October 2012.

It generated ¥6.5 billion ($75 million) in revenue, and net income of ¥1 billion ($12 million) in Q4.

Nexon said it predicts it will generate between ¥7.4 to ¥8.2 billion ($85 to $95 million) in total mobile sales during Q1 2013.

Good to go

"We enhanced our mobile business through the successful acquisitions of inBlue and Gloops, positioning Nexon as the leading third-party mobile game developer globally," stated CEO Seungwoo Choi.

"Since acquiring these companies, both have outperformed our expectations and each is set to deliver a strong 2013 lineup for the domestic and international markets.

"Importantly, through our recent alliance, DeNA is running strong marketing promotions for our games on the Mobage platform."

[source: Nexon]