Playlogic Confirms Larger Annual Loss

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PlaylogicPlaylogic confirmed selected financial results for its 2009 fiscal year ended December 31, 2009:
For the year, Playlogic reported a net loss of $20.3 million (excluding a gain of $21 million resulting from a debt restructuring), compared to a net loss in the previous year of $9.5 million. Playlogic explained the larger loss as the result from increased marketing and advertising expenses along with higher development costs in connection with Fairytale Fights.

As mentioned, Playlogic restructured $21 million of debt, resulting in an extraordinary gain and preserving deferred tax benefits for the company.

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This page contains a single entry by Editor published on May 17, 2010 10:24 AM.

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