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Taiwan on-line game provider Gamania suffers huge losses overseas in 2005

Kaddy Chung, Taipei
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Gamania Digital Entertainment, a provider of on-line games in Taiwan, recorded a net loss per share of NT$1.77 (US$0.05) for its 2005 operations due mainly to losses from overseas investments, according to the company’s 2005 financial report released on March 16.

Despite NT$227.5 million in net operating profits, Gamania suffered total losses of NT$378.2 million from non-operating investments, most of which was from a subsidiary in China and South Korea. The company has suffered annual net losses for three years straight, with a net loss of NT$245.6 million in 2003 and NT$167.7 million in 2004. The company’s board of directors has decided not to distribute any dividends for operations in 2005.

Gamania’s 2005 financial performance (audited)

Item

Amount (NT$ million)

Revenues

1,852.5

Gross operating profits

927.2

Net operating profits

227.5

Pre-tax profits

(206.0)

Net profits

(260.0)

Net earnings per share (NT$)

(1.77)

Source: Company, compiled by DigiTimes.com, March 2006

Article translated by Adam Hwang and edited by Eric Mah