GAMEVIL Releases 2010 Financial Results: It’s A Doozy!
The guys over at GAMEVIL Inc have released their numbers for the year 2010, and boy, these guys really made a lot of money. This must be due to their success in games such as Illusia, Zenonia and Baseball Superstars, and also in virtual goods, with total sales hitting 24 MILLION US Dollars. It’s crazy right? Check out the press release below for more information:
GAMEVIL Reports 2010 Results: Highest Revenue and Profit in the Korean Mobile Games Market
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 in 2010 were driven by successful franchises Baseball Superstars(R) and ZENONIA(R), and new titles such as Soccer Superstars(R) 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.”Powered by Sidelines
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