SouthPeak Interactive has announced its fiscal results for the year ended June 30, and the publisher saw a positive performance all around. Revenues increased a whopping 220 percent to $40.2 million, while earnings improved to $4.5 million (EBITDA) from a loss of $0.7 million during the previous year. Importantly, the company also went public and completed a round of financing worth $14.6 million earlier in the year.

Much of SouthPeak's success is attributable to the successful launch of the Xbox 360 RPG Two Worlds, and a sequel (Two Worlds: The Temptation) is already in development. The publisher is also expanding onto the Wii with two titles: Pool Party and Dream Pinball. SouthPeak said it's now "creating additional partnerships with independent studios worldwide enabling the Company to more than double the number of title releases in 2009."

"The 2008 fiscal year was an exciting period for us. We rapidly grew our business and completed a going public transaction and an institutional financing," said SouthPeak Chairman Terry Phillips. "Our financial results were driven by strong market demand for our products and the continued expansion of our product portfolio. Our results underscore the scalability of our business model, as illustrated by the decrease in our G&A expenses as a percentage of our net revenues to 9.5% as compared to 18.2% in the year-earlier period."

Melanie Mroz, CEO of SouthPeak, added, "In the past year, we have built a strong product line for next generation hardware platforms, including solid franchises, like Two Worlds, that provide us with sequel opportunities. We plan to expand our portfolio in fiscal 2009 with the addition of several new IPs, including Ninjatown, X-Blades, My Baby and Two Worlds: The Temptation. With our strong stable of independent developers throughout the world, we are poised to more than double our titles next year."