Gameloft Posts 2005 Half-Year Results

Mobile game developer/publisher Gameloft, makers of mobile titles including Tom Clancy's Rainbow Six, War Of The Worlds, and New York Nights: Success In The City has released its latest results for the first half of fiscal year 2005, a period ending June 30, 2005, and has showed some promising revenue increases, if no profit breakthrough just yet. Revenues for the firm increased by 134% over the same period in 2004, going from 8.7 million Euros ($10.47 million USD) to 20.4 million Euros ($24.55 million USD). Operating profit was slightly lower, with only 600,000 Euros ($722,366 USD) for the first half of 2005 compared to 800,000 ($963,154 USD) in 2004. 96% of the company's sales were due to mobile games, the company's chief product. Gameloft's Internet sales arm has grown by 56%, though the division still counts for only 4% of the company's total sales for the half-year. The lowered operating profits are due to research and development costs in the first half of 2005, and are in line with the company's expectations. During this period, Gameloft, which is formerly Ubisoft-owned, increased its total employee count to 1,375, 1,200 of which are developers. However, going forward, the company is looking for even stronger revenue, and has revised its 2005 revenue expectations upward to 44 million Euros ($52.95 million USD) from its previous estimate of 40 million Euros ($48.15 million USD), while not stating specific profit estimation.