Glu Mobile notifies that the projected third quarter earnings will dip slightly below guidance provided in early August as the firm anticipated Q3 revenues of $24 million to $24.7 million. Glu president and CEO Greg Ballard said, “We continued to see headwinds in our North American sales driven by lower consumer spending and slower growth in new mobile handset sales”. Glu said that when it releases its final Q3 results on November 4, it expects to post a small non-GAAP loss, which it blamed on lower revenues as well as unrealized foreign exchange losses and possible impairments to goodwill and prepaid royalties. Previously Glu forecasted a non-GAAP profit of 2 to 3 cents a share. Glu expects a significant growth for high-end handsets in 2009 and will allot a growing portion of its development expenses on titles for the iPhone, N-Gage and Android platforms.

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