SouthPeak Interactive has reported a net loss of $12.1 million (£7.6m) for the year ended June 30, 2009, compared to a net income of $1.5 million (£940,000) the previous year.

Revenues were up 18 per cent to $47.4 million (£29.7m) as the publisher doubled annual software unit sales to 2.4 million.

As of June 30, SouthPeak had approximately $12.5 million invested in game development, with over 30 intellectual properties in the works.
 
SouthPeak said that its fiscal year 2009 figures include $3.9 million of non-cash charges, $740,000 of stock-based compensation expense, $1.6 million of expenses relating to acquisitions, and $4 million in marketing expenses.

SouthPeak CEO Melanie Mroz said that fiscal 2009 had been “a challenging year” but that the company had “achieved several impressive metrics and made investments in its groundwork and foundation for our further sales growth”.

Chairman Terry Phillips added: “Our significant investment in infrastructure has increased our ability to launch product in a more timely manner, in addition to giving SouthPeak the ability to release titles on multiple next-gen platforms simultaneously, and around the globe. Our enhanced infrastructure has in turn enhanced our reputation amongst developers and presented us with exciting product opportunities at costs that allow us to achieve attractive returns on investment.”