I-Play the 2005 numbers

July 26th, 2006 by Arjan Olsder Posted in Analysis & Editorial | 1 Comment »

We have received I-Play’s 2005 financial report from an anonymous source today, meaning we have some nice quotes to extend our previous coverage about I-Play declining it’s financial problems.

In this post, We will only pick up on the big numbers. Shares, options and expenses are limited as we don’t feel it’s interesting enough for the general public of this post.

The report kicks of by stating the acquisition of Ditto Studios and incorporating their financial results from the 9th of July onward. Also it states the ownership of the entire amount of shares of a company called Wireless Games Ltd. which has not started trading.

The revenue almost doubled from 6.2 million pound in 2004 to 11.9 million pound for 2005. The operating costs in 2004 where 8.2 million pound and increased to a massive 15.08 million pound in 2005. The loss before interest and taxation increased from 3.62 million in 2004 to 7.16 million in 2005. Looking at the consolidated profit and loss account, it shows the total loss carried forward in 2004 of 22.5 million pound has increased to 29.9 million pound. The number of employees has increased from 74 in 2004 to 155 in 2005.

The growth of the revenue is explained by the increase of j2me/Brew capable handsets in the market (natural growth) and the release of more titles and widening the distribution network. North America is now the companies main source of revenues.

The three main costs for the company where the acquisition of Ditto Studio’s, the development on the North American market and the rebranding to I-Play. Most of the operational costs where in Q1 and Q2. In Q3, duplication of resources where eliminated and the North American market got more efficient which made a sharp drop in operational costs. In Q4, operational costs where eliminated even more.

The report of the directors shows confidence in the company. With the cut down in operational costs at the end of 2005 and the climbing revenues during 2005 and sustaining in 2006, they feel the company is in a healthy state.

    One Response to “I-Play the 2005 numbers”

    1. Mr Nosey says:

      So spill the beans…how much did they pay for Ditto?

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    Arjan Olsder is the Vice President of Pixalon Studios. Opinions expressed on this publication do not have to represent those of Pixalon Studios.


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