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Revenues
Net revenues climbed to
Gross Profit
Gross profit was
Operating Profit
Recorded net profit from operations for the first quarter ended
Net Profits
Net profits for the quarter amounted to
Profit per Share
For Q1 2008 profit per share is
Outlook Second Quarter 2008
The company expects for the second quarter the same or higher net revenues and net profits compared to the first quarter 2008.
Net profit per share for Q2 2008 is expected to be equal or higher than the profit per share of the first quarter 2008.
Current Climate
The growing number of titles published as well as the continuing First Party relationship with Sony Computer Entertainment Europe all contributed to strong first quarter results. Further marketing investments are continued to be made ensuring worldwide visibility and increased units sales of titles published.
"The profit for Q1 2008 demonstrates that we are on track with previously
announced expected results," said Playlogic's CEO,
The Company expects further increase in revenues and gross profit as more new titles are being published on console and PC platforms. Revenues might fluctuate per quarter reflecting actual release dates. Nevertheless, Playlogic expects to see steady revenue growth with continued profitability.
ABOUT PLAYLOGIC:
Playlogic Entertainment, Inc. is an independent publisher of entertainment
software for PCs, consoles, handhelds, mobile devices, and other digital
media. Playlogic distributes its products worldwide through all available
channels, online and offline. Playlogic, who currently has approximately 75
employees, is listed on the OTCBB under the symbol "PLGC" and is headquartered
in
Playlogic's portfolio includes games that are being developed by several
teams at the Playlogic Game Factory, Playlogic's in-house development studio
based in
Playlogic publishes quality games, working with leading technology to produce digital entertainment from concept to finished product. Playlogic plans to publish 20 titles during 2008.
FORWARD LOOKING STATEMENTS:
This release contains statements about PLAYLOGIC's future expectations, performance, plans, and prospects, as well as assumptions about future events. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, business and economic conditions and trends; fluctuations in operating results; reduced customer demand relative to expectations; competitive factors; and other risk factors listed from time to time in the company's SEC reports. Actual results may differ materially from our expectations as the result of these and other important factors relating to PLAYLOGIC'S business and product development efforts, which are further described in filings with the Securities and Exchange Commission. These filings can be obtained from the SEC's website located at www.sec.gov. Any forward-looking statements are based on information available to PLAYLOGIC on the date of this release, and PLAYLOGIC assumes no obligation to update such statements.
FOR MORE INFORMATION Playlogic Entertainment, Inc. Loana Leatomu T: +31 20 676 03 04 M: +31 6 13 73 20 10 E: lleatomu@playlogicint.com
For further information about Playlogic, please visit the Corporate Center at www.playlogicgames.com
SOURCE Playlogic Entertainment, Inc.