NEW YORK and AMSTERDAM, Netherlands, March 28 /PRNewswire-FirstCall/ --
-- Net revenues: $10.1 million (2006: $5.0 million)
-- Gross profit: $ 5.0 million (2006: $1.2 million)
-- Net profit: $0.7 million (2006: a loss of $12.5 million)
-- Net earnings per share: $ 0.03 (2006: a loss of $0.51)
-- Outlook 2008:
-- Further growth in net revenues and net profit
-- Expected Net earnings per share in the range of $0.07 - $0.12
(Logo: http://www.newscom.com/cgi-bin/prnh/20071119/PLAYLOGICLOGO )
Key data 2007: solid growth
x $1000 2007 2006 Change
Net revenues 10,100 5,043 + 5,057
EBITDA 3,213 (9,226) + 12,439
Gross profit 5,040 1,205 + 3,835
Net profit 744 (12,548) +11 804
Net earnings per share (x $1) 0.03 (0,51) +0.54
Shareholders equity 696 (10,889) +10,985
Total outstanding shares 38.5 million 25.3 million +13.2 million
Playlogic Entertainment, Inc. (OTC Bulletin Board: PLGC) - an independent
worldwide publisher of entertainment software - reports net revenues of
Statement of the CEO
Willem M. Smit, Playlogic's CEO: "For the first time since we started in 2002 Playlogic has realized profit for a full year. We are very pleased about this achievement and we expect this to be a turning-point towards further growth of revenues and profit. It is also an important milestone for all our shareholders and investors who put their trust and money in our company over the past years."
Net Revenues
Net revenues for the fiscal year 2007 increased substantially from
Gross profit
For the fiscal year 2007, gross profit totalled
Net profit
The net profit for the year ended
Net earnings per share
Net earnings per share went up to
Business highlights 2007 -- Received Global Playstation 3 Publishing License from SCEA -- Received US Playstation 2 and PSP Publishing License from SCEA -- Highest number of SKU's (#) published to date -- Playlogic's in-house development studio continued its First Party relationship with SCEE on new projects -- Playlogic titles available at retail in Japan, South Korea, Taiwan, Singapore, Hong Kong and Thailand -- Sony Computer Entertainment Asia distributed Obscure II on PS2 and Xyanide Resurrection on PSP -- Closed $12.3 million in equity through a Private Placement New developments -- Playlogic's in-house studio Playlogic Game Factory has extended First Party SCEE contracts on projects to be disclosed by SCEE -- In May Playlogic will move to its new European headquarter (9000sq/ft) in the World Trade Center in Amsterdam -- Publishing focus shifting to higher ratio of console titles versus PC as installed base increases -- Q1 2008 releases: Xyanide Resurrection PC, Dragon Hunters DS, Simon the Sorcerer 4-Chaos Happens, Obscure 2 Wii, Aggression-Reign over Europe
Outlook
Willem M. Smit, CEO: "We anticipate continuous growth in 2008. With the
recent closing of
About Playlogic:
Playlogic Entertainment, Inc. is an independent publisher of entertainment
software for PCs, consoles, handhelds, mobile devices, and other digital
media. Playlogic distributes its products worldwide through all available
channels, online and offline. Playlogic, who currently has approximately 75
employees, is listed on Nasdaq OTC under the symbol "PLGC.OB" and is
headquartered in New York and
Playlogic's portfolio includes games that are being developed by several
teams at the Playlogic Game Factory, Playlogic's in-house development studio
based in Breda, as well as games developed by a number of studios throughout
the world with approximately 300 people of external development staff.
Playlogic titles: Age of Pirates: Caribbean Tales, Aggression-Reign over
Playlogic publishes quality games, working with leading technology to produce digital entertainment from concept to finished product.
FORWARD LOOKING STATEMENTS
This release contains statements about Playlogic's future expectations, performance, plans, and prospects, as well as assumptions about future events. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, business and economic conditions and trends; fluctuations in operating results; reduced customer demand relative to expectations; competitive factors; and other risk factors listed from time to time in the company's SEC reports. Actual results may differ materially from our expectations as the result of these and other important factors relating to Playlogic's business and product development efforts, which are further described in filings with the Securities and Exchange Commission. These filings can be obtained from the SEC's website located at www.sec.gov. Any forward-looking statements are based on information available to Playlogic on the date of this release, and Playlogic assumes no obligation to update such statements.
FOR MORE INFORMATION IR & PR Office T: +31 20 676 03 04 M: +31 6 13 73 20 10 F: +31 20 673 13 14 E: lleatomu@playlogicint.com
For further information about Playlogic, please visit the Corporate Center at www.playlogicgames.com.
SOURCE Playlogic Entertainment, Inc.