Asiasoft reported first quarter loss of 40 Million Baht as the Group increases its investment in mobile gaming

BackMay 13, 2015

13 May 2015, Bangkok - Mr. Kenny Goh, the CFO of Asiasoft Corporation Public Company Limited ("Asiasoft" or "The Group") announced the 2015 quarter 1 results of a net loss of 40 Million Baht on a revenue of 239 Million Baht (2014 Quarter 1: profit of 13 Million Baht on a revenue of 365 Million Baht). COGS and SG&A from Domestic and Overseas decreased at 283 Million Baht (2014 Quarter 1: 345 Million Baht).

The operating results for first quarter continue to reflect the weak performance in PC gaming revenue from both domestic and overseas markets. The Company made lower sales from packaged products due to lack of new packaged product launches. Online revenue also slowed down mainly due to weak performance in new game launches because of rapidly changing market trend. However, COGS and SG&A both domestic and overseas decreased due to lower royalty payment and reduced employee expenses and IT costs.

Mr. Kenny Goh said that Asiasoft's strategy is to focus on mobile games moving forward. The Group is planning to launches 3 mobile games in Quarter 2, including "Onimucha Soul", a Cross Platform game (playable on both mobile and PC platforms) develop by Capcom, the leading game developer from Japan. "Line Dragonica", the mobile game version of the highly popular PC games, will also be launched in Quarter 2 in partnership with Line Corporation (LINE). Line Dragonica Mobile is slated for launch on iTune and Google Play in May 2015 and will be available in 6 countries across SEA. On PC game side, Heroes of the Strom will be launched in May and the gaming community has given very high rating and good response to the game.