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SouthPeak Reports $17.3 Million In Revenues

SouthPeak Reports $17.3 Million In Revenues

February 18, 2009 | By Leigh Alexander

February 18, 2009 | By Leigh Alexander
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Publisher Southpeak Interactive (Two Worlds) is crediting its "well-executed holiday sales strategy" for revenues of $17.3 million for its fiscal quarter ending December 31, 2008, alongside a $1.2 million profit.

In its previous quarter, the company saw its revenues halved alongside a $1.3 million loss, and says that it "made certain adjustments responding to the challenging retail environment" to reverse course over the holiday period.

"We are very pleased with our solid financial results for the quarter," says SouthPeak chairman Terry Phillips, attributing the results to a diversified portfolio, tight cost management and successful navigation of retailer behavior. Over the economically-constrained holiday period, many publishers suffered from a retail pattern of smaller initial sell-in in favor of more frequent reorders.

"We remain poised for strong growth and remain cautiously optimistic about the overall retail environment for our products," says Phillips.

SouthPeak CEO Melanie Mroz also cites "overwhelming demand" for DS title My Baby, calling it "one of the best selling Nintendo DS titles this holiday season."


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