Shanda Net Income Up 13%

Shanda Game (GAME) released financial results for the fourth quarter and full year ended December 31, 2009.

In the fourth quarter of 2009, Shanda Games reported net revenues of RMB1,336.2 million (US$195.7 million), representing an increase of 39% from RMB958.4 million in the fourth quarter of 2008 and 5% from RMB1,272.0 million in the third quarter of 2009.

Net income for the fourth quarter of 2009 was RMB415.2 million (US$60.8 million), an increase of 44% from RMB288.1 million in the fourth quarter of 2008 and an increase of 13% from RMB366.6 million in the third quarter of 2009.

The company also released a list of recent business highlights :

On December 5, 2009, Shanda Games began closed-beta testing for MMORPG "Woool: Legend of Heros," a sequel for one of the Company's legacy games "Woool."

On December 18, 2009, Shanda Games started open-beta testing of "TS2 Online," the Company's first turn-based MMORPG. "TS2 Online" is based upon the popular Chinese novel "The Romance of Three Kingdoms," one of the four classic novels in China.

On January 8, Shanda Games announced the acquisition of Goldcool Games, a Shanghai-based online game developer and operator. Goldcool Games currently operates three MMORPGs, namely "Hades Realm," "Dukes and Lords," and "Zodiac Tales," and has several MMORPGs in the pipeline, including "Hades Realm II," "Dragon Heir," and "Zodiac Tales Side Story."

On January 8, Shanda Games obtained an exclusive license from Nexon Corporation, a leading game developer in Korea, to operate its shooting-based casual game "Bubble Fighter" in mainland China. "Bubble Fighter" continues the adventures of the primary characters from the world-renowned casual games "BnB" and "KartRider."

On January 8, Shanda Games obtained an exclusive license to operate the fantasy 2D MMORPG "Mir III" in mainland China.

On January 12, Shanda Games announced an agreement to acquire Mochi Media, Inc., a leading platform for distributing and monetizing browser-based games worldwide