Left Behind Games Reports Record Earnings and Reveals Snapshot of Future Plans
Business Wire ”Press Releases – English”
LOS ANGELES –(BUSINESS WIRE)– Left Behind Games Inc . (OTC: LFBG) today reported record revenues of $1,136,266 and a net profit of $124,323 for the three months ended December 31, 2010 , compared to revenues of $52,868 and a net loss of $7,593,609 a year ago, respectively, making LB Games the first public company to profitably offer Christian video games.
LB Games CEO, Troy Lyndon , says, We are pleased to report operational profitability has resulted from increased interest in our products because of our 2010 expansion; the most significant in our history.
LB Games product line grew in 2010 from 7 to 11 products, releasing 4 new Christian games in 2010 including Praise Champion, the highest-quality Christian Karaoke game, King Solomons Trivia Challenge, the highest-quality Bible Trivia game, Left Behind 3: Rise of the Antichrist, based upon the New York Times #1 best-selling novel series by Tim LaHaye and Jerry Jenkins , which has sold more than 65 million books worldwide, and Charlie Church Mouse: SuperPak and 3D Bible Adventures, based upon the popular television character.
CEO Lyndon continues, We supported the release of these 4 new titles with our largest national advertising campaign in five years. This product expansion was made possible as a result of strategic relationships resulting from our acquisitions of the Charlie Church Mouse brand and Cloud 9 Games assets.
Today, Left Behind Games also announced it has taken steps to facilitate $10 million dollars in capital to expand its product line, enter new markets and diversify onto new platforms. Most notably, LB Games further announced its anticipated release of the first high-quality scripture memorization game, currently titled King Solomons Scripture Challenge, which is due out in later 2011.
Among other highlights of its quarterly filing, LB Games reported a reduction in accounts payable and accrued expenses of $976,542 in the past 12 months and an increase in shareholder equity of $975,394 in the past 12 months.