|Infogrames enjoy a "tremendous revenue growth" of 145 per cent|
|Posted: 18.11.2008 11:37 by Simon Priest||Comments: 0|
Atari releases have helped slap a big grin on Infogrames Entertainment's corporate face as they post their results for the first-half of the financial year.
Alone in the Dark, Dragon Ball Z and Backyard Baseball are in the accountants good books and despite a "very competitive" holiday season they're staying well chuffed.
"Strong revenues growth for the first half of the fiscal year 2008/2009 reflect strong sales and solid distribution," said David Gardner, Infogrames CEO.
"This first half of the year also showed improvement of current operating income resulting from improved cost control, the early results of restructuring plan and profitability measures implemented since the beginning of the fiscal year."
They saw a rise from EUR 91.2 million in the same period last year to EUR 131.8 million in net revenue. In the US it grew from EUR 14.8 million the previous year to EUR 36.3 million.
"I also would like to point out the turn around in the US with tremendous revenue growth of 145 per cent and reduction of losses," added Gardner.
"Given current economic situation, we think that holiday period will be very competitive, however we reiterate our full year revenues growth guidance at 12 per cent to 18 per cent and return to profitability by the second half of 2009/2010 on a 12-month basis."
"We are very confident that this first half is just the beginning of a new positive trend as we are efficiently rolling out our strategy, by strengthening our distribution revenues with new partnerships and improving our 2009/2010 products line up with new titles such as the recently announced Ghostbusters and The Chronicles of Riddick."