Playlogic announces Q3 profits

Amsterdam-based publisher Playlogic Entertainment has announced financial results for its third fiscal quarter, with profits totalling USD 2.1 million, up from a loss of USD 4.6 million last year.

Net revenue was also up, from USD 1.5 million last year to USD 3.7 million this year, a rise of 154 per cent, attributed principally to sales of Obscure II and Xyanide Resurrection.

Executive vice president Rogier W Smit was pleased with the results: "The net profit of USD 2.1 million shows that our policy of cost control, on the one hand, and investing in our future growth by acquiring and publishing more high quality products, on the other, is paying off."

Playlogic recently announced that it had agreed a deal with Sony Computer Entertainment America to publish PlayStation 2, PlayStation 3 and PlayStation Portable titles in the US as well as its existing deal in Europe, and closed a funding round worth USD 12.3 million.