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Conspiracy Entertainment Reports Revenues Increase 994% to $8.8 Million for the Year Ended December 31, 2007
Apr 16, 2008 (08:04 AM EDT)
LOS ANGELES, April 16 /PRNewswire-FirstCall/ -- Conspiracy Entertainment http://www.sec.gov , a developer, publisher and marketer of interactive entertainment software in North America and Western Europe, announced today its audited revenues for the year ended December 31, 2007. Revenues increased ten-fold to $8,791,131 for the year 2007 compared to total revenues of $803,493 for the year 2006. For the fourth quarter of 2007, Conspiracy reported revenues of $6,271,801, representing an increase of $6.1 million from revenues of $171,000 reported in the fourth quarter of 2006 and 269% higher than $1,700,00 reported for the third quarter of 2007. Detailed financial results are available on the Company's Form 10-KSB filed at .
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"Year 2007 represented a significant turnaround in Conspiracy's business. During the year, we secured a number of licensing agreements for popular titles, developed quality content with third-party developers and distributed titles through our partners in North American, Europe and Asia," said Sirus Ahmadi, president of Conspiracy Entertainment. "We are now positioned to capitalize on the next major growth cycle of the interactive entertainment industry. Through our existing licensing agreements, we plan to release up to 20 games over the 2008/2009 period. We also entered into discussions with our exclusive distributors to pre-sell a number of our interactive entertainment titles under minimum guarantee agreements. This will provide for even greater growth and the potential to build shareholder value over the long-term."
Keith Tanaka, CFO of Conspiracy Entertainment, said, "We are very pleased to report that our sales results for the fourth quarter greatly exceeded our expectations. The increase can be attributed to strong holiday sales and continued market adoption of popular gaming titles for new platforms, including the Wii, introduced in the third and fourth quarter. Our efforts in 2007 have put us on the right path to achieve sustained growth. We anticipate to report very strong top-line growth for the first quarter of 2008."
About Conspiracy Entertainment Corporation
Founded in 1997, Conspiracy Entertainment Corporation is a developer, publisher and marketer of entertainment software in North America and Western Europe. The Company develops and licenses properties from several sources, including global entertainment and media companies and publishes software for DVD media, wireless devices, personal computers and video game consoles, including those manufactured by Nintendo, Sony Computer Entertainment, Inc., and Microsoft Corporation. Conspiracy's recently released and upcoming products can be viewed at http://www.conspiracygames.com .
Safe Harbor Statement: The Private Securities Litigation Reform Act of 1995 provides a "Safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward- looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission. #
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Web site: http://www.conspiracygames.com/ http://www.otcfn.com/cpye/