(LEAD) Netmarble's Q3 net profit nearly doubles on popularity of new title

SEOUL, Nov. 6 (Yonhap) -- Netmarble Corp., a South Korean game developer, said Thursday its third-quarter net profit nearly doubled from a year earlier on the popularity of its new vampire-themed title, Vampir.

Its net profit came to 40.6 billion won (US$28 million) in the July-September period, up 97.1 percent from 20.6 billion won a year earlier, according to a regulatory filing.

However, the earnings fell behind market expectations. The average estimate of net profit by analysts stood at 67.4 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Operating profit rose 38.8 percent on-year to 90.9 billion won from 65.5 billion won and sales increased 7.5 percent to 696 billion won from 647.3 billion won.

The company said the sharp rise in net profit was driven by the successful global launch of Vampir, released in August, and steady demand for its adventure game, Seven Knights Re:BIRTH.

By region, North America accounted for 34 percent of all sales, followed by South Korea, Europe and Southeast Asia, with 32 percent, 11 percent and 8 percent, respectively.

The company said operating expenses rose 4 percent on-year to 605.1 billion won. Labor costs fell 4.9 percent to 170.4 billion won, but marketing expenses increased 38.9 percent to 145.3 billion won.

Netmarble said it plans to launch six new titles in the first half next year, including Seven Deadly Sins: Origin, Mongil: Star Drive and EvilBane.

brk@yna.co.kr
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