Amsterdam, Holland-based Playlogic has reported a $3.3 million (£2m) loss for the first half of 2009, compared with a profit of $1 million during the same period a year earlier.
The Age Of Pirates and Obscure publisher also saw first half revenues decline year-over-year, from $8.3 million to $4.7 million (£2.86m). During the period the company released five new games - Age Of Pirates II: City Of Abandoned Ships, Vertigo, Pool Hall Pro, Sudoku Ball Detective and Infernal: Hell’s Vengeance – compared to seven titles in the first half of last year.
The company attributed a decrease in gross profit, which was down from $4.4 million to $1.7 million (£1m), on its recent transition from being a PC-focused publisher to a console-centric one, which saw a rise in license fees paid to the platform holders.
The firm’s new console focus also resulted in an increase in marketing spend during the first six months of the year. “As a result” it recorded a first half operating loss of $2.7 million (£1.64m), compared with a profit of $1.2 million a year earlier.
Playlogic expects its second half releases – which include the 20th Century Fox license Aliens In The Attic, Obscure: The Aftermath and Fairytale Fights – to help drive full year net revenue in the range of $30-$40 million (£18.3-£24.4m), compared to $9 million in 2008, and net profit of $5.5-$7.5 million (£3.35-4.6m).