Codemasters punches in record results
UK-based publisher and developer reports 38 percent climb in revenue for 2007 fiscal year on the tails of DiRT and Overlord; US growth spikes 332 percent.
As the gaming sector continues its explosive growth, more and more companies are reaping record-setting revenues. Reporting on its full-year financials, Codemasters today announced that it had posted is best period since its inception in 1985. Codemasters posted group sales of $149 million for the year ended June 30, a 38 percent climb over the same period last year.
Driving growth for the period was a substantial increase in sales to the US market. As a result of signing a distribution agreement with Warner Bros. Home Entertainment in December 2006, Codemasters said sales of its titles had spiked 332 percent in the US and 150 percent across North America as a whole. The expanded reach of its titles combined with a "high percentage of full-price sales" in the US market accounted for more than 20 percent of the UK-based company's revenue.
Unsurprisingly, the Colin McRae-inspired rally racer DiRT and the humorously maniacal Overlord were Codemasters top titles for the year. Neither game had iterations in Codemasters' 2005-2006 fiscal year, where the company's releases included Toca Race Driver 3, RF Online, Sensible Soccer 2006, and Brian Lara International Cricket 2005. Other notable releases in Codemasters' 2007 fiscal year included Brian Lara International Cricket 2007 and hosting the European front of Turbine's The Lord of the Rings Online: Shadows of Angmar.
Codemasters is anticipating continued growth into next year, though it has received less-than-stellar reviews for its recently released Clive Barker's horror-themed shooter Jericho. Future releases for the publisher/developer include the alternate-history shooter Turning Point: Fall of Liberty, the bank-robbing crime sim Hei$t, the Greek mythos-laden action role-playing game Rise of the Argonauts, and a new installment in its Race Driver series. Codemasters also noted that it has ramped up investment in game production by $85 million, more than 150 percent of the amount it spent last year.
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