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Gameloft Posts 11% Revenue Increase As iPhone Revenue Triples

Mobile publisher Gameloft says its revenue grew by 11 percent to $170.2 million in 2009, most notably due to iPhone game sales, which grew 231 percent to $24.6 million year-over-year.
Paris-headquartered mobile game publisher Gameloft says its full-year revenue grew by 11 percent to €122.0 million ($170.2 million) in 2009, most notably due to an explosion in the company's iPhone game sales, which grew 231 percent to €17.6 million ($24.6 million) year-over-year. Gameloft has heavily invested in iPhone development, with its games frequently highlighted by Apple during press demonstrations. Its titles include Hero of Sparta, Assassin's Creed: Altair's Chronicles, and Ferrari GT: Evolution. Mobile game sales represented 94 percent of the company's overall revenue, with the remaining 6 percent being console-driven. The company has not yet released profit numbers. It is likely to do so along with its full year-end results to be released March 23. However, the company says its "profitability should increase dramatically," with a pre-stock operating margin of 8 to 9 percent, up from the previous year's margin of 3 percent. Gameloft's fourth quarter was less stellar, with revenue down 6 percent year-over-year to €31.8 million ($44.4 million) for the period that ended December 31. Nevertheless, iPhone game revenue, was up in the quarter, even if it didn't match full-year increases, growing 115 percent to €7.0 million ($9.8 million). The company blames its fourth quarter shortfall on a weakened dollar, and on its exit from the packaged goods market. Comparing only like-for-like revenues, Gameloft says its Q4 sales were up 7 percent.

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