Net loss for the FY 2008 is expected to be between $9.0 million and $10.0 million, while loss per share for the FY 2008 is expected to be between -/-$0.21 and -/-$0.23.
The revised expectations are the result of the current economic crisis combined with a significant one time additional impairment on capitalized software of between $4.0 million and $5.0 million and the shift in product release dates from 2nd HY 2008 to the 1st HY 2009.
Playlogic is continuing its investment in new releases and IP resulting in substantial growth in revenues and Playlogic expects to be profitable for the fiscal year 2009.
Playlogic expects to publish 12 games on different platforms (28 SKU’S) in 2009 among which the highly expected Fairytale Fights (PS3, X360, PC), the movie based They Came from Upstairs (Wii/NDS/PS2/PC) and Infernal (X360).
Mr. R. Smit, EVP added: “The second half of 2008 has been challenging. The postponement of several SKU’s from end of last year to this year directly impacted our revenues. The result is that this shift has strengthened the lineup for 2009 even further and, together with the large impairment the company is taking, we view both events to be positive for our 2009 financial year results.”
Based on 20th Century Fox's upcoming movie, They Came from Upstairs is an action/adventure game where Tom, Jake, and friends discover that the Aliens mind control guns do not work on kids, it is up to them to save their parents and the rest of the world from the invasion all before bed time.
The Pearson family think they have got the ultimate family vacation as they head to their vacation home in Maine. However, soon after arriving to the house, they discover that they are not the only people staying in it since a friendly alien has found the house first. Though the alien is friendly, his friends are not, and they are ready to invade the house. The kids have to gear up and defend their vacation house with everything they have or else the aliens will probe them out to space and destroy the world.
They Came from Upstairs is scheduled to debut in theatres July 31, 2009.
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