Stark SouthPeak Q1 financials due to My Baby issues
SouthPeak's first quarter results saw the shaky publisher report a net loss of $1.2 million, compared to the $687K profit it reported during the same time last year. Revenues during the period were $1.4 million, a steep drop from the $16.7 million reported in the previous fiscal year.
The publisher claims sales during the quarter were "largely impacted" by the My Baby mama-drama currently going on in the courts. SouthPeak is hopeful that a summary judgment granting the company the rights to resume production of My Baby: First Steps and "reinstate the contract with Nobilis" for future My Baby sequels will be upheld on December 2.
Beyond praying that it gets My Baby back and sequels popping out, SouthPeak also spent time, and the bulk of its marketing costs during the quarter, promoting Two Worlds 2 -- which will arrive in the UK and US in January -- and getting the hype machine rolling for Stronghold 3.
