14 DAY TRIAL // Playlogic Entertainment, a medium-sized games publisher, has announced significant improvements in its 2007 financial report. When compared to the 2006 fiscal year, the company has had near double revenue, of more than 10 million dollars, and for the first time in its history, the firm's accounts were in the positive for the whole 2007. The profits were of around 0.7 million, after losses of more than 12 million the year before.
Currently, Playlogic has approximately 75 employees, and is listed on the OTC Bulletin Board under the symbol "PLGC". It's headquarters are in Amsterdam and its internal game development studio is based in Breda, Netherlands. Various independent studios in several countries develop their games under contract with approximately 300 people of external development staff. In addition, Playlogic provides the license rights of existing titles in its portfolio to other studios who adapt these titles for other platforms.
After being founded in 2002, the company created a host of games, mainly targeting the console market and the handheld market. It currently has a multi-game deal with Sony Computer Entertainment through its Playlogic Game Factory internal studio. Although the names of the games under development are not known at this point, Playlogic is bound to profit from a partnership with such a high-profile company.
After the presentation of the financial results, Willem Smit , who is Playlogic's Chief Executive Officer, said that: "For the first time since we started in 2002, Playlogic has realized profit for a full year. We are very pleased about this achievement and we expect this to be a turning-point towards further growth of revenues and profit. It is also an important milestone for all our shareholders and investors who put their trust and money in our company over the past years."
Look out for the games that Playlogic will release in the following months, including Dragon Hunters for the DS, Obscure 2 for the Wii and Aggression - Reign over Europe.