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Asiasoft reported third quarter 2015, revenue growth due to mobile game

BackNov 11, 2015

11 November 2015, - Mr. Pramoth Sudjitporn CEO of Asiasoft Corporation Public Company Limited ("Asiasoft" or "The Group") announced that the company reported 2015 third quarter overall revenue of 264 Million Baht, 26% increased from last Quarter (2015 Quarter 2: 212 Million Baht) due to this quarter has been launched Dragonica Mobile and be able to get the ranking of Top Grossing in App store and Play store in South East Asia within the first week of launch.

The operating results for third quarter 2015 report net loss of 106 Million Baht mainly due to write off game licenses and the provision for impairment for intangible asset 103 Million Baht. If excluding such those items, the company would get net losses only 3 Million baht comparing with second quarter 2015, with net losses 67 Million baht or 96% better.

The company plans to launches four more games in the fourth quarter of 2015. Among the four games to be launch there are two PC games and two Mobile games. All of which are different in play style, to meet with the gamer demand. The third quarter which the company only launches one game, and due to the high season of the gaming market; the company expect that growth in the fourth quarter would be higher than the third quarter.

The company has business reorganizing in 2015 resulting in reduced selling and administrative as total of 58 Million baht or 19% compared to the same period last year. Additionally, the company has conducted goodwill impairment review of the investment in domestic and overseas subsidiaries in quarter 4. The review may convince the company to prepare goodwill impairment provision which will bring the company's operation back to its normal stage; generating continuous revenue and profit in the upcoming 2016 added Mr. Pramoth Sudjitporn.