Starbreeze AB : Interim Report July 1st 2013 - March 31st 2014

By GlobeNewswire,  May 15, 2014, 02:30:00 AM EDT


THIRD QUARTER (JANUARY - MARCH 2014)

>      Net sales amounted to SEK 32.1million (SEK 4.9 million).

>      Operating income before depreciation, EBITDA, amounted to SEK 20.9 million

(SEK 1.6 million).

>      Profit before tax amounted to SEK 16.2 million (SEK 0.5 million) and profit after tax amounted to SEK 11.6 million (SEK 0.6 million).

>      Earnings per share before and after dilution were SEK 0.01(SEK 0.00).

>      As of March 31 2014, cash and cash equivalents to SEK 126.3 million

(SEK 15.4 million).

>      During the quarter, PAYDAY 2 net sales amounted to SEK 28.7 million.

>      In the third quarter, revenue for Brothers - A Tale of Two Sons amounted to SEK 1.9 million.

>      During the quarter, PAYDAY: The Heist revenue was SEK 1.9 million.

NINE-MONTH PERIOD (JULY 2013 - MARCH 2014)

>      Net sales amounted to SEK 162.5 million (SEK 30.7 million).

>      Operating income before depreciation, EBITDA, amounted to SEK 131.4 million

(SEK 1.5 million).

>      Profit before tax amounted to SEK 119.9 million (SEK -2.0 million) and profit after tax amounted to SEK 101.8 million (SEK -1.9 million).

>      Earnings per share before and after dilution were SEK 0.07(SEK -0.00).

AFTER THE PERIOD

>      In April, PAYDAY 2 became the third largest community on STEAM with more than 500 000 members.

>      An invitation to an Extraordinary General Meeting on May 15th 2014 was sent out in April. The Board of Directors has presented their recommendation for an employee stock option plan, a suggestion for a candidate to strengthen the Board and a reverse split for the upcoming list change to First North.

CEO BO ANDERSSON KLINT GIVES HIS COMMENT

We're seeing another strong quarter where our digital strategy for the PAYDAY-series, and its expansions, is giving us a continuous revenue stream.

The huge success on STEAM, that hosts our now more than 500 000 strong community, continues to spur and humble us. We increased our membership numbers with more than 150 000 since last quarter.

As a part of our strategic road map we wish to see our employee's continuous commitment and involvement in Starbreeze. We have therefore asked our shareholders to approve a staff stock option plan. I am convinced the stock option plan will increase our value over time, as I strongly believe in motivation through participation. As a CEO I consider engaged employee participation to be a result of clear communication, creative space and shared financial goals. We're consistently working towards enabling our employees to be aware of how others see our products and take that to heart in their work, all the way from perceived quality to financial goals. I believe joint ownership is a powerful tool to achieve this.

Our continued work with the upcoming list change to Nasdaq OMX First North is progressing according to plan. We are looking forward to the suggested 10:1 reversed split and a number of organizational improvements to mature our company for our continued journey. As a step in that direction I would like to welcome Maeva Sponbergs who will fill the role of Head of Operations. She started at the end of April and has many years of experience within games distribution, publishing and digital distribution.

In June we will be attending E3 in Los Angeles to show our customers and fans what's next for PAYDAY 2.

We at Starbreeze are looking forward to an exciting end of the financial year with several expansions for PAYDAY 2 under production. The strategic work for 2015-2016 is already in full swing. The PAYDAY-franchise has given us a stable foundation for Starbreeze to continue to build upon and together with our employees I look forward to the future.

For more information please contact:

Bo Andersson Klint CEO, Starbreeze AB

Tel: +46(0)8-209 208, email: ir@starbreeze.com 

BRIEF INFORMATION ABOUT STARBREEZE

Starbreeze is developing computer- and video games in-house and in partnership with leading international game publishers. Our game portfolio consists of ten full titles and numerous DLC packs, where PAYDAY 2 and Brothers - A Tale of Two Sons are the latest games to have been released. Starbreeze was founded in 1998 and has approximately 7 700 shareholders.

See also: www.starbreeze.com





This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Starbreeze AB via Globenewswire

HUG#1785597



This article appears in: News Headlines

Referenced Stocks: STAR


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