SouthPeak revs soar 307 percent
"Overwhelming demand" for casual DS game My Baby boosts Legendary publisher's holiday-quarter sales to $17.3 million.
Game companies have been coping with the current severe economic climate with various degrees of success. One that's thriving is SouthPeak Interactive, which bought upstart publisher Gamecock last October.
Today, the Virginia-based publisher reported its fiscal results for the three-month period ended December 31, revealing that revenues for the quarter skyrocketed 307 percent to $17.3 million. Profit saw an equally impressive climb, growing to $1.16 million from the $280,000 during the same period in 2007.
"We are very pleased with our solid financial results for the quarter," SouthPeak chairman Terry Phillips said in a statement. "We attribute the strong financial results to our diversified portfolio, tightly managed costs, and strict supervision of the retail channel and field inventory levels... We remain poised for strong growth and remain cautiously optimistic about the overall retail environment for our products."
SouthPeak's casual lineup led sales for the October-December period. Namely, the publisher said that its Nintendo DS game My Baby Boy/Girl enjoyed "overwhelming demand" during the all-important holiday period. Other top sellers during the period included the well-received strategy game Ninjatown, as well as the critically lambasted Legendary. All said, the publisher saw its entire catalog shift 885,000 units during the period, up from 237,000 units for the same period a year ago.
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