mocoNews - Earnings: Gameloft Sales Climb 21 Percent, Boosted By iPhone Game Sales

Dianne See Morrison
mocoNews.net
Wednesday, April 29, 2009; 12:00 PM

The iPhone has once again boosted Gameloft (EPA: GFT) earnings. The French gaming firm singled out the "strong performance" of its iPhone games, as well as "solid sales" of Java and Brew games, as helping boost mobile games sales 21 percent in the first quarter. The news about Java and Brew games is especially interesting as industry sales of these games are "slowly decreasing," by Gameloft estimates. Company spokesperson Anne-Laure Descleves said that sales of the Java and Brew games, usually played on traditional feature phones, rose 6 percent compared to the same period last year. Overall, Gameloft reported sales of 30.8 million euros ($40.8 million) in the first quarter of 2009, an increase of 22 percent from the previous year. On a comparable exchange rate basis, growth in Q1 reached 18 percent.

Mobile games accounts for 94 percent of the company's annual sales, meaning that the company earned 28.95 million euros ($38.4 million) from mobile games. Console games made up the remaining 6 percent. Sales of games were spread evenly in its different territories, with Europe accounting for 35 percent of sales, North America making up 37 percent, and the rest of the world bringing in the remaining 29 percent. North America, however, was its strongest growth region, with sales up 57 percent in Q1. is therefore expecting to grow its revenues and to improve its profitability in 2009. (Release).

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