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Conspiracy Reports 994% Revenue Increase for 2007
by Eric Caoili [PC, Console/PC]
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April 16, 2008
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Santa Monica based publisher Conspiracy Entertainment has announced its audited revenues for 2007, reporting a 994% increase to $8.8 Million compared to 2006's total revenues of $803,493, attributing the increase to strong holiday sales and continued market adoption of titles for the Wii.
According to Conspiracy, the publisher was able to secure licensing agreements and help develop quality content with third-party developers to bring about this growth in revenue. Conspiracy intends to release up to 20 games over the 2008/2009 period using its existing licensing agreements, presumably on the Nintendo DS and Wii.
The company previously reported an $819,330 revenue increase in its financial second quarter for 2006, with a slight $7,942 rise in profits from a $360,938 loss.
Said Keith Tanaka, Conspiracy Entertainment CFO, "We are very pleased to report that our sales results for the fourth quarter greatly exceeded our expectations ... Our efforts in 2007 have put us on the right path to achieve sustained growth. We anticipate to report very strong top-line growth for the first quarter of 2008."
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