SouthPeak Interactive reported record sales of $40.2 million for its fiscal year 2008, an increase of 220 percent year-on-year, the company said Tuesday.

The firm attributed the sharp rise in sales to the increased number of current generation releases.

Net income was $1.6 million, up from a net loss of $866,000 a year ago.

SouthPeak's annual filing revealed software unit sales of 1.2 million units, an 81 percent increase over the prior year.

The Grapevine, Tex.-based company also said the average net revenue per game rose 77 percent from $18.52 to $32.70.

During the fiscal year, SouthPeak published titles including Two Worlds for PC, Xbox 360 and PC, Overlord for PS3 and Roogoo for PC. The company released 15 titles total during the year.

SouthPeak said it will continue to become more involved in the creative process when working with development partners.

One of the company's goals is to "build a large enough portfolio of game titles so that we now focus on developing higher quality, more creative games as opposed to focusing on building a 'critical volume' of games."

SouthPeak also hopes to expand its headcount from the current 36 employees.