cdv Software profits soar in first half of 2009

German publisher cdv Software Entertainment AG announced a “significant increase in revenues and profits” for the first half of fiscal year 2009. The company says that during 2009 it has strengthened its position and market share in the interactive entertainment industry. Most of its success so far this year can be directly attributed to the Xbox 360 and PS3 versions of Sacred 2: Fallen Angel, which helped the company reach a top 3 market position in North America.

Revenues for the company in the first six months in 2009 were 11.3 million euros, compared to 6.8 million euros for the same period in 2008. The increase of 66 percent was primarily due to revenues generated from the sales of video game software in key territories.

cdv reported earnings before interest and taxes (EBIT) of 0.9 million Euros compared to a 1.6 million euros loss in the same period a year ago. Net income for the first half fiscal year ending June 30, 2009 was 0.4 million euros compared to a loss of 1.9 million Euros for the six month period ending June 30, 2008. This growth was due to a substantial increase in sales of console software followed by game software for the PC.

cdv’s equity capital has also improved, now at a loss of 0.3 million euros as of 30 June 2009 compared to a staggering loss of 3.7 million euros as of 31 December 2008.

While i’m glad for cdv’s improved financial situation this year, it’s sad that the company that helped it get to where it is - Ascaron - went bankrupt making the games that brought cdv so much success. That’s says a lot about who much publishers pay developers and how much it costs to develop games for PS3 and Xbox 360.