BEIJING, Sept. 15, 2011 /PRNewswire-Asia/ -- Perfect World Co., Ltd. (NASDAQ: PWRD) ("Perfect World" or the "Company"), a leading online game developer and operator based in China, today announced that it has updated its revenue guidance for the third quarter of 2011.
In order to further enhance the content of the Company's portfolio and lengthen the life cycle of its existing games, the Company decided to slow down in-game promotional activities for some of its existing games in the third quarter. The Company now adjusts its revenue guidance for the quarter to be between RMB702 million and RMB741 million, as compared to the previously announced revenue guidance of RMB756 million and RMB803 million. This represents a moderate decline in revenue on a sequential basis, but still an increase of 21% to 28% on a year-over-year basis for the Company's core online game business.
The Company believes that such fluctuation is only temporary and is a part of the normal product cycle. So far during the third quarter, the Company has released a series of expansion packs for its existing games and plans to roll out a few more, including a major expansion pack for its flagship game Zhu Xian by the end of the quarter. With continued additions and enhancement to its portfolio, the Company expects its performance to accelerate again in the following quarters. This repeated cycle of enhancing game content followed by in-game promotions helps lengthen the life cycle of the Company's games and proves to be beneficial to its growth in the long term. The Company has great confidence in its future sustainable growth.
About Perfect World Co., Ltd. (http://www.pwrd.com)
Perfect World Co., Ltd. (NASDAQ: PWRD) is a leading online game developer and operator based in China. Perfect World primarily develops online games based on proprietary game engines and game development platforms. Perfect World's strong technology and creative game design capabilities, combined with extensive knowledge and experiences in the online game market, enable it to frequently and promptly introduce popular games designed to cater changing customer preferences and market trends. Perfect World's current portfolio of self-developed online games includes massively multiplayer online role playing games ("MMORPGs"): "Perfect World," "Legend of Martial Arts," "Perfect World II," "Zhu Xian," "Chi Bi," "Pocketpet Journey West," "Battle of the Immortals," "Fantasy Zhu Xian," "Forsaken World," "Dragon Excalibur," "Empire of the Immortals" and "Heaven Sword and Dragon Saber;" and an online casual game: "Hot Dance Party." While a substantial portion of the revenues are generated in China, Perfect World's games have been licensed to leading game operators in a number of countries and regions in Asia, Latin America and the Russian Federation and other Russian speaking territories. Perfect World also generates revenues from game operations in North America, Europe and Japan. Perfect World plans to continue to explore new and innovative business models and remains deeply committed to maximizing shareholder value over time.
Safe Harbor Statements
This press release contains forward-looking statements. These statements constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, but are not limited to, Perfect World's limited operating history, its ability to develop and operate new games that are commercially successful, the growth of the online game market and the continuing market acceptance of its games and in-game items in China and elsewhere, its ability to protect intellectual property rights, its ability to respond to competitive pressure, its ability to maintain an effective system of internal control over financial reporting, changes of the regulatory environment in China, and economic slowdown in China and/or elsewhere. Further information regarding these and other risks is included in Perfect World's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Perfect World does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For further information, please contact
Perfect World Co., Ltd.
Vice President, Investor Relations & Corporate Communications
Christensen Investor Relations
SOURCE Perfect World Co., Ltd.