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Gameloft Announces Record Q2 Sales
Written by Justin Davis on Friday, July 27, 2007
Gameloft announced today that the company's total game sales for the quarter ended June 30 reached a new record high of 23.2 million euros, or 31.65 million US dollars, a year-over-year increase of 47%. The company specifically cited the continued "long tail" performance of its back catalogue, and the 2007 launch of licensed titles including Shrek the Third, Desperate Housewives, and Lost, as drivers of the explosive growth.
This brings total revenue for the first half of 2007 to 45.9 million euros (62.61 USD), compared to 2006's six month total of 30.5 million euros. Europe accounted for 44% of sales, North America 38%, and the remaining 18% coming from other territories.
Despite the stronger-than-expected results, the company did not revise its guidance, reiterating that it expects total 2007 sales to reach between 95 and 100 million euros, and an operating margin target exceeding 10%. The company also noted that it is also on track to meet its objective of an operating cash flow close to breakeven or positive during fiscal 2007.
Gameloft has released 35 new titles so far in 2007, with another 40 due before the end of the year.
