G5 Entertainment updates its January-September 2011 result forecast to 31.2 MKr revenue, 11 MKr operating result, and 1.26 Kr EPS, which is in line with previously announced forecast of 31 MKr / 11 MKr / 1.26 Kr, respectively. This forecast corresponds to 112% revenue growth and 88% operating result growth compared to the same period of 2010.
The management keeps the forecast for full year 2011 at 47 MKr revenue with 16.5 MKr operating result and EPS of 1.9 Kr, as communicated previously. This forecast corresponds to achieving 106% revenue growth and 88% operating result growth, compared to full year 2010.
The group is using the proceeds from new issue completed in late August to invest in content acquisition and product development, and expand its marketing capacity to handle more game releases in Q4 2011 and 2012. As the development cycle for the group's games ranges from 3 to 6 months, and for new original games could be even longer, this investment can positively reflect on the group's results already in Q4 2011, with the major effect expected in 2012.
The management announces that the group's goal for year 2012 is 87 MKr revenue with 30 MKr operating result and EPS of 3.2 Kr. This is a forward-looking statement, and the actual result can be both above and below this forecast, depending on the performance of the group's games and certain risk factors detailed in the group's quarterly and annual reports.
- In 3 months after the launch of G5's games on Android Market, they were downloaded over 4.6 million times. Download numbers and revenue from Android Market keeps growing.
- Virtual City for Android reached #23 Top Grossing App position in US Android Market and Top 10 Grossing App positions in EU Android Markets. Other G5 games released on Android Market have also achieved Top 50 and Top 100 Grossing App positions in many countries.
- In only 3 months after the launch of G5's games on Android Market, G5 is arguably the largest casual game publisher on Android Market, by downloads and Top Grossing positions.
- The total number of downloads on iOS and Android (not counting updates) is now over 23 million.
- Virtual City Playground for iPad, a group's first take on freemium business model, became #1 Top Grossing game in 15 countries, Top 10 Grossing game in 59 countries, and Top 50 Grossing game in 75 countries, within one month after the release. The game's Highest Top Grossing iPad ranks are similar to or even slightly better than the ranks of Zynga's CityVille on iPad. (Virtual City Playground ranks: www.appannie.com/virtual-city-playground-hd/ranking#view=best-grossing-ranks, CityVille Hometown ranks: www.appannie.com/cityville-hometown/ranking#view=best-grossing-ranks&device=ipad)
- The number of G5's YouTube channel video views has surpassed 1 million, and then surpassed 1.25 million views a few days after.In Q4 2011, G5's goal is to release a new game on iOS and Android every week on average, and the group also plans a number of releases on Mac. The lineup for Q4 includes Virtual City 2: Paradise Resort for PC, Mac, iOS, and Android; Virtual City Playground for iPhone and Android platforms, and many other games. To date, the group has released 47 games in 2011, and it is on track to release a total of 80 games before the end of the year.About G5 Entertainment ABG5 Entertainment AB is a developer and publisher of high quality downloadable games for iPhone, iPad, Android, Mac, PC, and portable game consoles like Sony PSP and Nintendo DSi. G5 develops and publishes games that are family-friendly, easy to learn, and targeted at the widest audience of experienced and novice players. G5 owns a number of popular game franchises like Virtual City, Supermarket Mania, Stand O' Food, and Mahjongg Artifacts, and invests in creating new games and bringing established franchises to new gaming platforms.More information about G5 Entertainment can be found at: www.g5e.se/corporateFor additional information please contact: mailto:
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