European sales drive Playlogic revenues

Amsterdam-based software publisher Playlogic Entertainment has revealed its Q1 financial results, showing a massive rise in revenue driven primarily by strong sales throughout Europe.

For the first quarter ended March 31st, the independent publisher posted net revenues of USD 2.7 million, marking a 440 per cent increase on the USD 0.5 million of the previous year.

The company attributes the significant revenue increase to the fruition of investment plans instigated during 2005, and a positive reception to its PC, Xbox and PS2 titles throughout Europe, which accounted for sixty-six per cent of overall sales.

The company continues to invest heavily in marketing, promotion and administrative operations to expand its market presence and distribution network, resulting in a net loss of USD 1.2 million, compared to USD 0.56 million for the same period a year ago.

Earnings per share for the quarter were USD 0.05, up three cents on the comparable quarter in 2005, and the publisher plans to substantially increase revenues over the remainder of the year, extending its distribution network and securing numerous new releases on multiple platforms, including Age of Pirates: Caribbean Tales, Age of Pirates: Captain Blood, Ancient Wars: Sparta, and Infernal.