SouthPeak Interactive has reported last fiscal year’s earnings which ended June 30th. They’re well chuffed with themselves having seen $40.2 million flood in.
That’s better than the previous year which saw only $4.5 million by comparison. Making the company public was key, as was ”strong market demand” of course.
SouthPeak published Two Worlds which is an open-world RPG much like Oblivion in that respect. It harbours many a faction where the player can pick sides and generally cause a political ruckus.
”The 2008 fiscal year was an exciting period for us. We rapidly grew our business and completed a going public transaction and an institutional financing,” said Terry Phillips, chairman.
”Our financial results were driven by strong market demand for our products and the continued expansion of our product portfolio. Our results underscore the scalability of our business model, as illustrated by the decrease in our G&A expenses as a percentage of our net revenues to 9.5 per cent as compared to 18.2 per cent in the year-earlier period.”
Yeah there’s some economic lingo in there but it’s still great to know video games companies aren’t folding every other week, they do actually have some success stories.
”In the past year, we have built a strong product line for next generation hardware platforms, including solid franchises, like Two Worlds, that provide us with sequel opportunities,” said CEO Melanie Mroz.
”We plan to expand our portfolio in fiscal 2009 with the addition of several new IPs, including Ninjatown, X-Blades, My Baby and Two Worlds: The Temptation. With our strong stable of independent developers throughout the world, we are poised to more than double our titles next year.”
Source: GamesIndustry.biz
