Gameloft elaborates on 2004 earnings

Mobile game company reports solid growth; plans 20 new games in 2005, including War of the Worlds.


War of the Worlds (2005)

Gameloft, the worldwide publisher and developer of games for mobile devices, today released its annual earnings report. It also announced plans to develop a game based on Steven Spielberg's upcoming War of the Worlds film. The deal with Viacom will see the retelling of the H.G. Wells classic. The upcoming movie stars Tom Cruise and is due in theaters April 29, the same day Gameloft expects to release the game.

Gameloft's revenues were 23.2 million euros ($30.4 million) in fiscal year 2004, which ended December 31, up from 2003's revenues of 10.2 million euros ($13.4 million). Its net operating profits reached 2.4 million euros ($3.1 million), up from 2003's 1.2 million euros ($1.6 million). However, net profits were 1.9 million euros ($2.5 million), down from 2.4 million euros ($3.1 million) in 2003. According to today's news, the higher 2003 figure was due in part to 2 million euros ($2.6 million) the company gained from selling short-term investment securities.

In 2004, Gameloft more than doubled its staff, going from 248 employees at the end of 2003 to nearly 750 at the end of 2004. Some of its 2004 releases include Prince of Persia: Warrior Within, Tom Clancy's Splinter Cell Pandora Tomorrow, and Might and Magic.

Looking ahead, Gameloft officials said the company will offer 20 or more new games in 2005, including 10 3D games for 3G mobile phones. They also predicted that the company's revenues will grow another 70 percent this year, with positive growth in operating profits as well.

Gameloft released its 2004 sales figures in January and expects to announce sales for first quarter 2005 on April 28.

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