The third fiscal quarter of 2008 is now in the record books for Amsterdam-based publisher Playlogic, with the company announcing revenues of $1.1m (£740k) for the period. This represents a drop of about 70 percent compared to the company’s 2007 Q3 revenue of $3.7m.

Gross profits also fell for the publisher; it recorded a slim $300k (£200K), compared to the previous year’s $2m (£1.3m). Playlogic also announced an operating loss of $2.8m (£1.9m) for Q3, compared to a $500k (£335k) operating profit the previous year. This all resulted in a $3m (£2m) net loss for the quarter, compared to the previous year’s Q3 net profit of $2m (£1.3m).

Playlogic cited product delays as the primary reason for the downturn, noting that many of its upcoming games including Sudoku Ball Detective, Vertigo, and Age of Pirates 2: City of Abandoned Ships (pictured), have been pushed from Q3 and Q4 2008 into the first quarter of 2009. The publisher also took a write-off of $1m (£700k) on several games as a result of the slowing worldwide economy.

The company’s full-year outlook calls for revenues in the range of $11m-13m (£7.3m-8.7m), with a net loss of $0.05 per share.