Playlogic Reports $9.5m Loss, Signs North American Distribution Deal

Dutch publisher Playlogic has revealed net losses of $9.5 million for the full financial year ended December 31st, down from a net profit of $0.7 million the previous year. Net revenues fell by 11 percent to $9.0 million. The results are in line with the company’s previous prediction of losses of between $9 and $10 million, which it put down to the global economic climate, a onetime impairment and the delay of key titles. Despite the poor results the company expects to return to profitability next year, with predictions of net profit of between $5.5 million and $7.5 million. At the same time ,the company has announced the signing of a new North American sales and distribution deal with U & I Entertainment. “We are excited to partner with U & I Entertainment to launch Playlogic’s multi genre and multi platform console line-up in the US and Canada,” said Playlogic vice president of sales and business development Paige Carlson. “The partnership combines U & I’s proven retail sales and distribution expertise with our robust line-up of games; including Infernal for Xbox 360, They Came From Upstairs for DS, Wii, PS2 and PC and the highly anticipated Fairytale Fights for X360, PS3 and PC.