Playlogic posts profits

First full year with money to spare a "turning point," according to Obscure II publisher.

Champagne corks may well be flying across the offices of Playlogic today after the company has reported its first-ever full year of profit.

Playlogic has published titles including Obscure II (Obscure: The Aftermath in the US), Infernal, Xyanide, and Ancient Wars: Sparta.

For the fiscal year that ended December 31, 2007, Playlogic is reporting net revenues of $10.1 million, and net profit of $700,000. In 2006, net revenues were $5 million, but the company lost $12.5 million. Net earnings per share for 2007 were 3 cents, compared to 2006, where they were a loss of 51 cents.

The company expects further growth in 2008, both in net revenues and net profit, and expects net earnings per share in the region of 7 to 12 cents. The company also stated it would be shifting its focus to console games instead of PC titles.

Playlogic CEO Willem Smit said that he believed the latest results were a "turning point" for the company, and thanked all the shareholders and investors who had put their trust in the company over the past six years.

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Discussion

13 comments
equili3rium
equili3rium

All of their games had a console feel to them anyway so it's no great loss as far as i'm concerned...

majidok
majidok

Why GameSpot is turning into WallStreetSpot.com ?

necronaux
necronaux

Obscure wasn't that bad. Be interesting to see if they can up their game with the next-gen consoles.

mysterylobster
mysterylobster

They made money on niche games for the European PC gaming market. If they think they can take crap like Infernal and light it up on the consoles, they're mistaken.

VenomRitual
VenomRitual

i had never heard of those games listed. glad they did well this year though

artiebillymac
artiebillymac

Good for'em but yeah need more Obscure games lol .

mmogoon
mmogoon

Maybe stop publishing terrible games and those profits would stay up?

kaziechameleon
kaziechameleon

i love that they made one playable game and every game they made was crap on pc no wonder it didn't sell as well, the pc versions of there games were worse than the already weak console games, have these bumbs consoles they manage one playable, not good or great but playable sequel in a whole year, enjoy.

mysterylobster
mysterylobster

"The company will also be shifting its focus to console games as opposed to PC titles" PC Gaming Death Watch: 03/31/08