NCsoft reports income rise of 451% in Q2
Company's YOY sales and profit soar following strong performances in North Korea and Japan
NCsoft has reported massive increases in both sales and income for its second quarter of the FY2010, returning a total net income of KRW 33.8 billion (USD 27.1 million) - a figure up 451 per cent on the previous quarter.
Sales increased for the South Korean company by 70 per cent, totalling KRW 137.8 billion (USD 110.5 million), while operating profit rose 353 per cent compared to the same quarter in 2008, to KRW 47.5 billion (USD 38.1 million).
Aion: The Tower of Eternity, which the company released in Korea in November 2008, and in Japan and Taiwan in July 2009, accounted for 34 per cent of these sales. Followed by Lineage 2 with 31 per cent, and Lineage with 23 per cent. Aion is scheduled for release in the US on September 22, and in Europe on September 25.
Sales in South Korea accounted for the largest chunk of sales profit - 57 per cent in total. Japan generated 15 per cent, North America eight per cent, and Europe and Taiwan three per cent.
Of the company's assorted subsidiaries, NC China showed the greatest year-on-year improvement in sales with increases of 174 per cent. NC True - its online business in Thailand - generated 118 per cent more income than in the previous year. NC Europe was the only subsidiary to record a drop in sales on last year - of 19 per cent.
Based on its Q2 performance, NCsoft raised its annual revenue guidance by 17 per cent to KRW 586 billion (USD 470 million), and its operating profit forecast 80 per cent to KRW 180 billion (USD 144.4 million).
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