Key Developments For Glu Mobile Inc.
Glu Mobile Inc. (GLUU.O) (Consolidated Issue listed on NASDAQ Global Market)
Glu Mobile Inc. Issues Q4 2009 Guidance; Revenue and GAAP Net Profit Guidance Below Estimates; Raises FY 2009 Revenue Guidance; Narrows FY 2009 GAAP Earnings Guidance To A Range Below Estimates
Glu Mobile Inc. announced that for the fourth quarter of 2009, it expects GAAP revenue to be between $19.5 million and $20.0 million, GAAP net loss to be between $(1.8) million and $(2.2) million, or a net loss of between $(0.06) and $(0.07) per basic share and non-GAAP operating income to be between $600,000 and $1.0 million and non-GAAP net income to be between $300,000 and $600000, or a net income of $0.01 to $0.02 per diluted share, which excludes $1.5 million for amortization of intangibles, approximately $650,000 of anticipated stock-based compensation expense and approximately $300,000 of restructuring charges. For fiscal 2009, the Company expects GAAP revenue to be approximately $79.8 to $80.3 million, GAAP net loss to be between $(13.1) million and $(13.4) million, or a loss of $(0.44) to $(0.45) per basic share and non-GAAP operating income to be between $2.8 million and $3.2 million. Non-GAAP net loss is expected to be between a net loss of $(600,000) and $(900,000) or a net loss of $(0.02) to $(0.03) per basic share. According to Reuters Estimates, analysts were expecting the Company to report revenue of $20.2 million, EBIT of $(1.16) million, GAAP net profit of $(1.7) million and GAAP EPS of $(0.06) for the fourth quarter of 2009; revenue of $79.7 million, EBIT of $(9.80) million, GAAP net profit of $(12.5) million and GAAP EPS of $(0.41) for fiscal 2009.
Glu Mobile Inc. Launches Mini Golf Wacky Worlds On Apple App Store
Glu Mobile Inc. announced the worldwide launch of Mini Golf Wacky Worlds on the Apple App Store.
Glu Mobile Inc. Issues Q3, FY 2009 Revenue Outlook; Issues Q3 2009 Earnings Outlook Below Analysts' Estimates; Raises FY 2009 Earnings Outlook
Glu Mobile Inc. announced that for third quarter of 2009, it expects GAAP revenue to be between $18.75-$19.0 million, GAAP net loss is expected to be between $3.6-$3.8 million, or a net loss per basic share of between $0.12-$0.13, non-GAAP operating loss is expected to be between $0.1-$0.3 million and non-GAAP net loss is expected to be between $0.8-$1.0 million, or a net loss of $0.03 per basic share. For fiscal 2009, it expects GAAP revenue to be approximately $79.1-$80.0 million, GAAP net loss is expected to be between $11.8-$13.8 million, or a loss of between $0.40-$0.46 per basic share. Non-GAAP operating income is expected to be between $2.0-$4.0 million. Non-GAAP net income/(loss) is expected to be between a net loss of $(1.6) million and net income of $0.4 million, or between a net loss of $(0.05) per basic share and net income of $0.01 per diluted share. According to Reuters Estimates, analysts were expecting the Company to report net profit of $0.32 million and EPS of $0.01 for third quarter of 2009 and net loss of $1.17 million and loss per share of $0.04 for fiscal 2009.
Glu Mobile Inc. Announces CEO Transition Plan; Reaffirms Q2, FY 2009 Guidance
Glu Mobile Inc. announced that Company President and Chief Executive Officer (CEO), Greg Ballard, has indicated his intention to transition his role with the Company to new leadership. The Company anticipates that, in order to help ensure a smooth transition, Mr. Ballard will remain in his role until his successor is in place. The Company also announced that its Board of Directors has elected Dan Skaff and Bill Miller as Co-Chairmen of the Board of Directors. In addition, based on preliminary financial data for the second quarter of 2009, the Company announced that it expects its final financial results for the second quarter to be consistent with the guidance that the Company provided on May 6, 2009. Further, the Company currently expects its financial results for fiscal 2009 to be consistent with this previously announced guidance. According to Reuters Estimates, analysts on an average are expecting the Company to report GAAP net loss of $3.6 million and GAAP net loss per share of $0.12 on revenue of $19 million for the second quarter of 2009; GAAP net loss of $12 million and GAAP net loss per share of $0.40 on revenue of $80 million for fiscal 2009.
Glu Mobile Inc. Launches TRANSFORMERS CyberToy on Apple App Store
Glu Mobile Inc. announced the worldwide launch of TRANSFORMERS CyberToy for iPhone and iPod touch. This entertainment application represents the third title that Glu has developed and published based on the TRANSFORMERS franchise, under license from the Hasbro. The TRANSFORMERS CyberToy is launching in conjunction with the upcoming TRANSFORMERS: Revenge of the Fallen movie from DreamWorks Pictures and Paramount Pictures, in association with Hasbro, due out June 24.
