Gamevil's 2010 results
Mobile games publisher's annual sales increase by 17%.
SEOUL, KOREA — February 14th, 2011 — GAMEVIL Inc.(KOSDAQ: 063080) reported its record high sales, operating income and net income in 2010 on the 9th of February 2011.
GAMEVIL's 2010 annual sales again reached its historically best, increasing 17% to 28.5 billion KRW over 2009, and its operating income increased 14% to 15.5 billion KRW, which makes it the highest-earning company in the Korean mobile games market. GAMEVIL became the first mobile game company in Korea to surpass 10 billion KRW in net income in 2009, and continues to lead the market in 2010, increasing its net income 25% to 14.8 billion KRW. Operating profit percentage was 54% and net profit percentage was 52% in 2010.
In billion KRW 2009 2010 Variation
Sales 24.4 28.5 17%
Operating Income 13.6 15.5 14%
Net Income 11.8 14.8 25%
Sales in 2010 were driven by successful franchises Baseball Superstars ® and ZENONIA ® , and new titles such as Soccer Superstars ® and ILLUSIA. Expansion into worldwide smartphone marketplaces such as Apple App Store and Google Android Market contributed as well. Also of note, successfully adapting to changing mobile consumer spending patterns led to virtual goods sales reaching 47% of total income.
Having released a total of 11 titles in 2010, GAMEVIL plans to more than double that in 2011, focusing on social and smartphone gaming as well as expanding its external publishing operations.
"Many changes are expected in devices, networks and business models in 2011. By facing them head on, we strive to grow in both scope and revenue as a global mobile gaming company," said Yong Kuk Lee, Chief Financial Officer of GAMEVIL. "It's been a decade of great positives for GAMEVIL, and we anticipate on succeeding in both mobile and social landscapes."
GAMEVIL ® is a premier mobile game publisher located in Seoul, Korea and Los Angeles, USA. Established in 2000, GAMEVIL has earned a reputation as one of the best companies in the mobile games sector by crafting award winners in a diverse portfolio of games. GAMEVIL is well known for revolutionizing the sector with its original and innovative mobile games, backed by unparalleled expertise in advanced mobile technology. As a world class leader in mobile games publishing, GAMEVIL continues to lead the sector with a commitment to establish mobile as the definitive mass market entertainment platform of the world. GAMEVIL is currently listed on the KOSDAQ Market (Ticker: 063080, Bloomberg: 063080:KS, Reuters: 063080.KQ)
GAMEVIL ® , Baseball Superstars ® , Soccer Superstars ® and ZENONIA ® are registered trademarks of GAMEVIL Inc. in the U.S. and/or other countries.
Follow the Twitter feeds at http://twitter.com/gamevil and Facebook Pages at http://facebook.com/gamevil.