Losses increase at Playlogic

Amsterdam-based publisher Playlogic suffered a net loss of $6.7m for the nine months ending September 30th – a significant increase on the $2m loss suffered in the same period a year before.

Net losses for the quarter ending September 30th reached $3.2m, only just above the $3m loss in the same quarter in 2008.

Year-to-date revenues stand at $6.7m – down from $9.4m. However, there was a rise in revenues for the quarter, which jumped from $1.1m to $2m.

The decrease in gross profit is due to the shift in our strategy and subsequent adjustments to our portfolio,” a company statement read.

In the previous year a large percentage of products were published on PC, with fewer SKUs published on console. This current year has seen our focus shift onto next-gen consoles as well as other console platforms including Nintendo DS, DSi, Wii and PSP.”

Full year revenues in the region of $12.5-$17.5m are predicted.