Gravity Reports Preliminary 4Q 2017 Results and Business Updates
February 02 2018 - 6:20AM
GRAVITY REPORTS PRELIMINARY 4Q 2017 RESULTS AND
BUSINESS UPDATES
Seoul, South Korea – February 2, 2018 – GRAVITY
Co., Ltd. (NasdaqCM: GRVY) (“Gravity” or “Company”), a developer
and publisher of online and mobile games based in South Korea,
today announced its selected preliminary financial results for the
fourth quarter ended December 31, 2017 and business updates.
PRELIMINARY FOURTH QUARTER 2017
FINANICIAL RESULTS
Revenues and Operating Income
Tentative consolidated revenues for the fourth
quarter of 2017 is KRW 67,521 million and operating income is KRW
3,216 million
(In millions of KRW)
|
Three Months Ended |
QoQ |
YoY |
|
30-Sep-17 |
31-Dec-16 |
31-Dec-17 |
Revenues |
23,723 |
17,500 |
67,521 |
184.6 |
% |
285.8 |
% |
Operating Income |
3,422 |
1,944 |
3,216 |
(6.0 |
%) |
65.4 |
% |
The preliminary financial information above is
forward-looking information and subject to risks and uncertainties,
including possible adjustments to such information.
Liquidity
The balance of cash and cash equivalents and
short-term financial instruments was KRW 61,595 million as of
December 31, 2017, which was a 21.2% increase QoQ from 50,819
million as of September 30, 2017.
GRAVITY BUSINESS UPDATES
Ragnarok Online
Ragnarok Online was re-launched in Singapore and
Malaysia on November 30, 2017. The Company and its local licensees
re-launched Ragnarok Online in Thailand, Indonesia and Philippines
in July 2016, February 2017 and June 2017, respectively.
On December 27, 2017, the Company officially
launched Ragnarok Zero, a new version of Ragnarok Online, in Korea.
The Company plans to launch such game in more markets in 2018.
Ragnarok Online
IP-based Games
- Ragnarok M, an MMORPG mobile game
Gravity plans to launch Ragnarok M in Korea in
March 2018. Ragnarok M has been one of the top mobile games in
Taiwan since its launch on October 12, 2017. Based on revenues,
Ragnarok M ranked first in both Apple’s App Store and Google Play
Store in Taiwan, Hong Kong and Macau, at its peak. Gravity plans to
launch Ragnarok M in more markets in 2018.
- RO: Idle Poring, a text RPG mobile game
Gravity began to offer RO: Idle Poring in Korea
on January 30, 2018. Gravity is currently offering such game
globally except for Japan and China.
About GRAVITY Co., Ltd.
---------------------------------------------------
Based in Korea, Gravity is a developer and
publisher of online and mobile games. Gravity's principal product,
Ragnarok Online, is a popular online game in many markets,
including Japan and Taiwan, and is currently commercially offered
in 80 markets and countries. For more information about Gravity,
please visit http://www.gravity.co.kr.
Forward-Looking Statements:
Certain statements in this press release may
include, in addition to historical information, "forward-looking
statements" within the meaning of the "safe-harbor" provisions of
the U.S. Private Securities Litigation Reform Act 1995.
Forward-looking statements can generally be identified by the use
of forward-looking terminology, such as "may," "will," "expect,"
"intend," "estimate," "anticipate," "believe", "project," or
"continue" or the negative thereof or other similar words, although
not all forward-looking statements contain these words. Investors
should consider the information contained in our submissions and
filings with the United States Securities and Exchange Commission
(the "SEC"), including our annual report for the fiscal year ended
December 31, 2016 on Form 20-F, together with such other documents
that we may submit to or file with the SEC from time to time, on
Form 6-K. The forward-looking statements speak only as of this
press release and we assume no duty to update them to reflect new,
changing or unanticipated events or circumstances.
Contact:
Mr. Heung Gon Kim Chief Financial Officer
Gravity Co., Ltd. Email: kheung@gravity.co.kr
Ms. Ji Hee Kim IR Manager Gravity Co., Ltd.
Email: ircommunication@gravity.co.kr Telephone: +82-2-2132-7800
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