Perfect World quarterly income rises
First quarter income up 12.7 pct, 47 pct year on yearBEIJING -- Chinese online gaming company and movie producer Perfect World late Monday reported a 12.7% rise in quarterly net income to 305.2 million yuan ($44.7 million).
Nasdaq-listed Perfect World, which underwrote the hit Zhang Ziyi vehicle "Sophie's Revenge" in 2009 with CJ Entertainment of South Korea and the China Film Group, said the rise in net income attributable to shareholders in the quarter ended March 31, represented a 41.6% jump from the first quarter 2009.
Gross revenue in the first three months of 2010 was up 2% from the prior quarter to 625 million yuan ($91.6 million), a jump of 47% year-on-year, the Beijing-based company said.
Film, television and other revenues were 2 million yuan ($300,000) in the first quarter, down 55.6% from the end of 2009 when "Sophie's Revenge," by writer-director Eva Jin, was a hit at the Chinese boxoffice, grossing about 100 million yuan. Film, TV and other revenues were well above the nil posted in the first three months of 2009.
This month, Perfect World acquired a majority stake in U.S.-based PC game developer Runic Games for about $8.4 million, a move the company said will allow it to "further enhance its strong R&D capabilities."