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Gameloft Announces 2006 Sales, Profit Growth

French-headquartered mobile game publisher and developer Gameloft has announced that a substantial improvement in operating profitability during the second half of 2006 has led to an operating income of 2.5 million Euros over the entire period for 2006, u
French-headquartered mobile game publisher and developer Gameloft has announced that a substantial improvement in operating profitability during the second half of 2006 has led to an operating income of 2.5 million Euros over the entire period for 2006, up from 2005's 2.3 million Euros. Gameloft announced that their total sales increased 46% over fiscal year 2006, with the growth of download revenues standing at 78%, the download market forming the company's core business, representing 91% of annual sales. The sale of its interest in Internet site jeuxvideo.com enabled Gameloft to make a net capital gain of 20.4 million Euros, with the operating profit for fiscal 2006 reaching 19.2 million Euros compared to 1.2 million Euros in 2005. The Group's current operating margin recorded a rebound during the last six months of 2006, reaching 11.4% over the second half-year of the period compared to -5.9% over the first half-year. Gameloft's releases across 2006 included Splinter Cell Mobile: Double Agent, Desperate Housewives, Lost, and Real Football 2006. A sequel to Real Football 2006, Real Football 2007, was recently released. "For the fourth year in a row, Gameloft's financial position improved significantly," Said a Gameloft representative, "On December 31, 2006, financial indebtedness was reduced to zero. Gameloft therefore has the financial resources necessary for its international growth strategy." They continued, "In the second half of 2006, cash flows from operating activities came close to the break even point. This illustrates that the company is in a position to continue to self-finance its strong growth and aim for operating cash flow that is close to the break even point or even positive during fiscal 2007."

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