Frontier Developments posts drop in full-year earnings

(ShareCast News) - Video game developer Frontier Developments published its full year results to 31 May on Thursday, with revenue reducing to £21.4m from £22.8m.The AIM-traded firm reported revenue from self-published games of £21m, up from £18.6m, and an EBITDA of £4.9m, down sizably from £6.1m a year ago.Operating profit was £1.2m for the year, dropping from £1.6m, and earnings per share were 4.2p against 4.9p.The company made an adjusted loss per share of 8p, however, against adjusted earnings of 7.4p per share in the previous financial year."We have successfully transformed our business model, continued to improve and expand the Elite Dangerous offering, and are making good progress towards the release of Planet Coaster in November," said Frontier chief executive David Braben."The number of active Elite Dangerous players daily and monthly is consistently high."Braben said the game has strong and growing long-term support and a "rich community" behind it."The release of Plant Coaster will complete our transition, and the positive feedback we are seeing from the Alpha process gives us confidence it will drive revenues to a new level." Frontier Dev