Playlogic Entertainment today announced its fiscal results for the quarter ending March 31. Net revenue improved a great deal year-on-year from $500k last year to $2.7 million this year. Losses, however, more than doubled to $1.2 million in Q1 2006 compared to $560k in Q1 2005.

"The change in quarterly revenue is primarily attributable to the investments made in the previous years that have started to pay off in the first quarter. Most of the revenues came from new titles released on PlayStation2, Xbox and PC in both the US (34%) and Europe (66%)," said the release by Playlogic. "The higher loss is primarily due to higher selling, marketing, general and administrative expenses. These investments were made to ensure the continual growth and development of the company. Earnings per share are $(0.05) for the first quarter 2006, compared to $(0.02) in the prior-year period."