FOR IMMEDIATE RELEASE
SEOUL, KOREA — February 16th, 2012 — GAMEVIL (KOSDAQ: 063080) reported its record high sales, operating income and net income earned in 2011, marking their best year ever in company history.
GAMEVIL's 2011 annual sales reached 42.6 billion KRW, operating income reached 17.5 billion KRW and net income reached 16.1 billion KRW, each figure having grown by 39, 12 and 9 percent respectively, over 2010 results.
Fourth quarter results also bested historic company records, with sales at 16.5 billion KRW, operating income at 6.3 billion KRW and net income at 5.8 billion KRW. This marks growths of 65, 42 and 44 percent over the previous third quarter.
The strong gains are attributed to successfully adapting to changing market conditions and increased sales from smartphone devices, which accounted for 73 percent of annual revenues. Overseas sales outside of Korea reached an aggressive growth of 106% over the previous year. In 2011, GAMEVIL also released the latest iterations in its highly-anticipated flagship series, ZENONIA® 4 and Baseball Superstars® 2012, as well as more new titles optimized for modern smartphones and high-resolution displays.
Along with steady sellers from its own library such as AREL WARS™, GAMEVIL also had significant success as a publisher of externally developed titles, with games such as Air Penguin and Cartoon Wars reaching top spots in global rankings and sales.
“Having bested our records again, year over year, is especially meaningful as we face changing trends in the market,” said Yong Kuk Lee, Chief Financial Officer. “As smartphone adoption continues to grow worldwide, GAMEVIL will continue to bring entertaining, innovative and more social game experiences to our audience.”
GAMEVIL projects a 58 percent increase to 65 billion KRW in sales for 2012, with plans already in motion to release a record number of over 40 titles during the year. Its GAMEVIL USA office continues to look to the international smartphone market, while the recently-opened GAMEVIL Japan office will further spread its reach in Asia.
GAMEVIL® is a premier mobile game publisher based in Seoul, Korea with offices in Los Angeles, USA and Tokyo, Japan. 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® and ZENONIA® are registered trademarks of GAMEVIL Inc. in the U.S. and/or other countries.