Gameloft increases full-year sales target thanks to growing mobile market

French publisher Gameloft is increasing its full-fiscal year guidance to $257.8 million, up from a previous $251 million, after strong sales of mobile devices buoyed the sales of its mobile games.

French publisher Gameloft is increasing its full-fiscal year guidance to $257.8 million, up from a previous $251 million, after strong sales of mobile devices buoyed the sales of its mobile games.

The publisher, which counts the North American market for 24 percent of its sales for the first half of the fiscal year, generated $119.7 million for the first six months ending June 30th. This was up 24 percent from $96.5 million a year ago. The publisher counts Europe and the Middle East for 26 percent of its sales, Asia-Pacific for 22 percent, and Latin America was 21 percent.

The publisher was able to reduce its operating income to $5.5 million, down from $9.9 million a year ago, and the net income was $5.8 million, down from $6.6 million a year ago. Gameloft says it currently has $54.9 million in cash.

The company is choosing to focus on mobile game development because of the continuing growth of smartphone and tablet ownership. In the quarter ending June 30th, sales of Gameloft smartphone and tablet games increased by 119 percent and account for more than 50 percent of the company's sales. More than 57 million monthly active users currently play Gameloft's games and this number is expected to grow.

Gameloft plans to release 20 new games in the next six months, which will help the company meet its new, increased annual sales forecast. The list of new titles include Wild Blood, My Littlest Petshop, Zombiewood, and Modern Combat 4.

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