Alliance Distributors see year-on-year profits rise

Alliance Distributors has announced financial figures for both the quarter and nine months leading up to March 31, 2012, revealing flat sales but a healthy upswing in net income. Whilst quarterly sales dipped slightly, 4 per cent from $16 million to $15.3 million, net income actually increased by 1000 per cent from $7000 to $77,000. For the nine-month results, sales were flat, year on year, but net income leapt from $277,000 to $483,000. "Net income grew year over year despite a slight decline in revenue in the third quarter compared to last year's third quarter," said CEO Jay Gelman. "The video game industry continues to experience double digit revenue declines in 2012." Whilst the company's main business is the distribution of games and peripherals, wholly owned Metaversal Studios actually produces its own content and represents a growing business. "Our Metaversal Studio unit continues to work towards profitability by developing new games and improving on our existing offerings, including the release during the quarter of a Tattoo Kit for our popular Shave me! app."