Consolidated revenue for the period is 9 548 KSEK, up 153% compared to 3 776 KSEK for the same period of 2010. This is in line with previously communicated forecast of 9.5 MSEK. Compared to the same period of 2010, the group accelerated its year-on-year revenue growth from 66% to 153%.
Operating result for the period is 3 921 KSEK, up 203% compared to 1 293 KSEK for the same period of 2010. This result is in line with previously communicated forecast of 3.9 MSEK. Earnings per share for the period is 0.44 Kr. This result is in line with the previously communicated forecast of 0.44 Kr.
In Q1 2011 the group generated positive cash flow of 3 154 KSEK. Cash reserves on March 31st 2011 amounted to 7 963 KSEK. The group continues to grow profitably.
Current assets of the group as of March 31st 2011 were 13 409 KSEK. Current liabilities: 5 416 KSEK. Working capital (CA-CL): 7 993 KSEK. Current ratio (CA divided by CL): 2.48. The group does not have any long-term liabilities, and has strong liquidity position.
The management forecasts the revenue of 19 MSEK with operating result of 7.8 MSEK for the period of January-June 2011. EPS contribution of Jan-June 2011 is forecasted to reach 0.88 Kr. This forecast corresponds to 132% revenue growth and 162% operating result growth compared to 8 206 KSEK revenue and 2 977 KSEK operating result in Jan-June 2010. The management did not announce any forecasts for the period of Jan-June 2011 until now.
For the period of January-December 2011, the management keeps the previously communicated forecast of 45 MSEK revenue, 16 MSEK operating result, and earnings per share of 1.9 Kr. This forecast corresponds to achieving 100% revenue growth and 78% operating result growth compared to the period January-December 2010. However, the probability of raising the forecast in the following months increased, as the group has prepared a strong line up of new game releases for the rest of the year. The management will update the forecast for the full year after the end of the 2nd quarter - in the beginning of July.
During 2010, G5 released a total of 27 games, compared to only 9 games released in 2009. The group aims to release 80 more games in 2011, including games for Android. At the end of 2009, G5 had a portfolio of 17 games. At the end of 2010 - a portfolio of 44 games. With the release of 80 games in 2011, G5's portfolio is set to grow to over 120 games by the end of 2011.
On January 6th 2011, on the first day of the Mac App Store availability, G5 released 8 Mac games on the Mac App Store: Virtual City, Supermarket Mania, Stand O'Food, Mahjongg Artifacts 1 and 2, Success Story, and Paranormal Agency. Virtual City for Mac became global Mac App Store hit, reaching Top 10 Grossing Games positions in the charts of all major countries: #7 in USA, #6 in Canada, #3 in UK, Germany, and France; #2 in Italy, #4 in Spain, #6 in Sweden, #5 in Australia and Japan; #7 in China, #2 in Russia.
In January 2011, G5 released Treasure Seekers 2: Enchanted Canvases for iPhone and iPad. The iPad version of the game became #6 Top Grossing Game in France, #7 Top Grossing Game in the UK, #9 Top Grossing Game in Germany, Top 10 Puzzle Game in all countries where the iPad App Store is available, Top 100 Grossing Game in all countries where the iPad App Store is available.
On February 17th, G5 released Romance of Rome for iPhone and iPad. The game was developed and published by G5 Entertainment for iPhone and iPad under license from Awem Studio - the developers of the original PC game. The iPad version of the game became Top 10 Grossing Game in 32 countries, including USA and major EU countries.
This interim report has not been reviewed by company's auditor.Important events after the end of the period
G5 now has contracts with over 15 best casual game development studios from around the world, and is working on bringing their best games to the market, while also working on a number of original proprietary games for release during 2011.
Starting May, G5 is going to be releasing new games regularly, on average one per week, and the nearest releases include such hits as Supermarket Mania 2, Jack of All Tribes, Stand O'Food 3, Treasure Seekers 3 and Treasure Seekers 4, Special Enquiry Detail, and many more games are coming soon. G5 is on track to release 80 games during 2011.More information about the company can be found at: www.g5e.se/corporateFor additional information please contact: mailto:out G5 Entertainment AB (publ)G5 Entertainment AB is a developer and publisher of high quality downloadable games for iPhone, iPad, PC, Mac, 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.