Gameloft Q3 mobile revenues up 16% year on year

Third quarter revenues at Gameloft rose by 16% year on year, hitting €26.2 million and 13% pro forma. Revenues were also up 9% on the second quarter of 2008. Gameloft’s iPhone sales were key to its good performance but the business stated it is reassuring to see that its core business – the download of 600,000 mobile games – has continued to grow both year on year and sequentially.

Gameloft achieved consolidated sales of €76.5 million for the first nine months of 2008, up by 9% from the previous year. The increase in sales is in line with the company’s expectations. On a comparable exchange rate basis, nine month growth reached 16%.

Mobile games accounted for 98% of third quarter sales. The remaining 2% are related to Gameloft’s console game business (Nintendo DS, Xbox Live Arcade and Nintendo WiiWare).

Europe represented 41% of sales for the third quarter of 2008, North America 31% and the rest of the world 28%. Sales in North America were up 18% on a comparable exchange rate basis which marks a sharp improvement in Gameloft’s business in this region, partly due to the success of its iPhone games.

Gameloft anticipates its growth rate to accelerate dramatically in the fourth quarter of 2008 thanks to the upcoming release of several games for iPhone, N-Gage, Nintendo DS and Nintendo Wii. .

2008 is a turning point in the mobile gaming industry, the business stated. The major innovations introduced by companies such as Apple, Nokia and Google have radically transformed and improved the gaming experience, consumption behaviors, as well as the industry’s business model. In addition to these innovations in the mobile gaming industry, the entire video game industry will have moved towards digital distribution by the end of 2009.

Thanks to its unique development capacity and quality of its development studios, Gameloft has been one of the rare players able to be systematically present with quality games at the release of all of the new platforms recently introduced on the market. Gameloft positioned itself in the top ranks as a game publisher for Xbox Live Arcade, Wiiware, iPhone, iPod and N-Gage.

This strategy of mass market and multiplatform games is now fully bearing fruit and allows the company to weather the impact of the worldwide economic slowdown. Today’s markers for growth, iPhone, N-Gage, iPod, Wiiware and Xbox Live Arcade, will soon be joined by Google’s Android, Nintendo’s DSi and Sony’s PS3 Store in which Gameloft will be present each time with a quality game offering. Therefore, Gameloft is positioned to reach its annual financial objectives despite the unfavorable market conditions, it said.

In the long term, due to the quality of its development studios, Gameloft is in an ideal position to remain within the top ranks worldwide of the mobile telephone gaming market. Moreover, the company will continue its fast growth in a market in which it has been investing since 2002 with success and which will include nearly 4 billion potential consumers in 2010.

Sales for the fourth quarter of 2008 will be published on 29 January 2009 after the close of the market.

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