Gameloft sees 2011 profits up 34% to 18.2 million euros
Has 36.9 million euros in cash
Mobile publisher Gameloft (GFT.PA) has broken out its profit figures for its full year 2011, the 12 months ending 31 December.
Net profit was €18.2 million (around $23.5 million), up 34 percent compared with 2010.
There were a couple of significant one-off charges and credits in this figure, however.
Gameloft took a charge of €5.3 million (around $7 million) related to console and PC social games it had previously capitalised on its balance sheet. It's now totally focused on phones, tablets and smart TV games.
It gained a tax profit of €5.7 million (around $7.5 million) due to the recognition of tax loss carry-forwards. It has €14.1 million (around $18 million) in terms of remaining unrecognised consolidated tax loss carry-forwards.
It also made a currency exchange loss of €1.1 million (around $1.4 million) due to the strength of the euro.
Cash inAs previously announced, annual consolidated sales were €164.4 million (around $213 million), up 17 percent year-on-year.
The company ended 2011 with net cash of €36.9 million (around $48 million), up €11.8 million ($15 million) during the year.
Gameloft pointed to the increasing important of smartphones and tablets to its business, with the category's share of its Q4 sales up 64 percent year-on-year to 41 percent.