Zoo Entertainment sees 63 per cent decrease in Q2 revenue
Falls to $3.7 million , compared with $9.8 million in Q2 2011
Zoo Entertainment's financial results for Q2 2011 show a serious decrease in revenue compared the same period in 2010, with a drop of 63 per cent from $9.8 million to $3.7 million.
Net loss for Q2 was $10.1 million, compared to a year on year loss of $965,000.
In an investor conference call CEO Mark Seremet said the Dino Strike publisher's recent move to digital distribution had been "rough," but was keen to push a positive outlook.
"We remain very optimistic about our future and are ready to fully expand our new digital business."
The publisher's latest game is Kona's Crate, released for iOS and Android on its indiePub label. The title was released on June 23 and has so far achieved 150,000 downloads.
Earlier this month Zoo Entertainment investors filed a class action lawsuit against the company alleging that it made "materially false and misleading statements" in 2010.
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