GAMEVIL continues record overseas growth for Q3 2013
LOS ANGELES, CA- November 12, 2013- Leading mobile games publisher and developer GAMEVIL announced its 2013 third quarter results today, reporting record overseas (outside of Korea) sales of 12.2 billion KRW ($11.4 million USD).
In the third fiscal quarter of 2013, GAMEVIL recorded 21 billion KRW ($19.6 million USD) in sales, 1.9 billion KRW ($1.8 million USD) in operating profit, and 1.8 billion KRW ($1.7 million USD) in net profit - this reflected a 26% increase in sales as compared to the prior year. However, there was a decrease in operating and net profit due to increased third party royalties and investments in talent acquisition.
The quarter is noted for its highest overseas sales to date. GAMEVIL recorded 12.2 billion KRW ($11.4 million USD) in overseas sales, which resulted in a 108% increase over the previous year’s results for the same quarter. In particular, the company saw growth in the greater China region with a steep 46% increase in sales compared to the previous quarter.
GAMEVIL attributes its growth in core genre sales to its live services. Titles such as ‘Monster Warlord’ and ‘Fishing Superstars’, which have currently been in the market for more than 16 months, have continued to do well in the box office. Through constant updates and live events, sales have increased 20% compared to the previous quarter. With titles such as ‘Dark Avenger’ and ‘Perfect Inning 2013 KBO’ growing as well, GAMEVIL is finding success in the mid-core space, recording higher ARPU and revenues than ever before.
In order to consolidate the foundation for future growth, GAMEVIL also showed a full range of investments this year, which included equity investments and acquisitions, talent acquisition, and overseas expansion. In particular, the Com2uS acquisition established a major stepping-stone going forward by combining the game development and global publishing capabilities of Com2uS and GAMEVIL, respectively. Going forward, GAMEVIL looks to capitalize on the potential of both companies’ global platforms, Com2uS Hub and GAMEVIL Circle, by creating global synergy through collaboration, cross-promotion, and other events.
For the next quarter, GAMEVIL plans to expand on its success by releasing a variety of highly anticipated titles. Following the success of recently launched fantasy puzzle RPG, ‘Spirit Stones’, GAMEVIL will be releasing 10 blockbuster titles, which includes the anticipated Full-Network MORPG ‘ZENONIA Online’. By doing so, GAMEVIL hopes to finish the year strong and to solidify itself as a leading global publisher.
GAMEVIL®, with over 330 million game downloads and experience publishing hundreds of games on multiple platforms, is one of the most active and innovative mobile game companies in the world. Established in 2000 and with offices in Los Angeles, Tokyo, Beijing and Seoul, GAMEVIL is an experienced global mobile game publisher working with more than 70 top studios around the world.
With deep industry and regional knowledge, GAMEVIL has been able to craft numerous award winners through a diverse portfolio of games. Backed by unparalleled expertise in mobile, GAMEVIL continues to lead the sector with a commitment in establishing mobile gaming as a way of life.
GAMEVIL is currently listed on the KOSDAQ Market (Ticker: 063080, Bloomberg: 063080:KS, Reuters: 063080.KQ)