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.
Wireless Federation » archive for 'Glu Mobile'
Glu Mobile expects a fall in Q3 earnings (USA)
- October 6th, 2008
- 5:14 am
Nokia launches N-Gage gaming platform (Finland)
- February 6th, 2008
- 1:31 pm
Nokia has launched the first version of its new N-Gage mobile gaming platform. The company has invited owners of its N81 device to download and try out the new application, which gives access to a range of games to try out or purchase. The company has signd agreements with game publishers such as Digital Chocolate, Glu Mobile and THQ Wireless to supply titles for N-Gage. Announced last year, N-Gage is part of Nokia’s new Ovi portal, offering a range of entertainment and services for mobile users. The Finnish company is also testing the service Share on Ovi, a social network for sharing videos and photos.
Glu Mobile offers GBP 18.3 million for Superscape (USA)
- January 24th, 2008
- 8:55 am
Mobile games developer Glu Mobile has bid GBP 18.3 million to acquire rival Superscape. The agreed offer is worth GBP 0.10 cash per share for Superscape, equal to a 29 percent premium on Superscape’s last traded share price. The Superscape directors, which hold 1.27 percent of the company, have already accepted the offer, while shareholders with another 33 percent of the company have also committed to the bid. Glu believes the acquisition will provide it with a number of benefits, including adding meaningful scale to
its existing business in the US, demonstrated leadership in 3D games and technology, and a talented and enthusiastic team with experience in mobile games.
Glu rings up $84M IPO
- May 4th, 2007
- 1:46 pm
Mobile game publisher Glu Mobile on Wednesday raised $84 million in an initial public offering of 7.3 million common shares at $11.50 per share. The IPO–underwritten by Goldman Sachs–was fortuitously timed, debuting during a rally in an otherwise volatile market and giving Glu an initial market capitalization of about $327 million. According to documents filed with the SEC, the company will earmark proceeds from the offering to repay debt, for general corporate purposes, and for operating capital.
Although Glu Mobile’s 2006 revenue grew to $46 million from $26 million over the previous year, the company has yet to turn a profit. Its net loss narrowed to $12.4 million in 2006 from $18 million in 2005.
For more on the Glu IPO:
- read this MarketWatch article
Glu announces gaming deal with Warner Bros.
- May 4th, 2007
- 1:44 pm
Mobile gaming publisher Glu Mobile announced a worldwide multi-year partnership with Warner Bros. Digital Distribution to develop, market and distribute mobile games and content based on selected film releases. In addition, Glu will create games and content based on titles from the ranks of Warner Bros. Entertainment properties DC Comics, Looney Tunes and Hanna-Barbara. Per terms of a separate agreement, Glu will distribute select Warner Bros. Entertainment mobile games like “Ocean’s Thirteen” and “300″ throughout North and South America.
“Warner Bros. has an immense portfolio of properties loved by millions of people around the world, and we look forward to giving fans a way to experience great games on their mobile phones,” said Glu Mobile CEO Greg Ballard in a prepared statement.
For more on the Glu/WB deal:
- read this release
Wmode acquires ProvisionX from Glu Mobile
- January 16th, 2007
- 3:07 pm
Yahoo writes…Wmode, the leading provider of mobile content managed services under the ClearMode brand, announced today the acquisition of ProvisionX, the third party mobile games delivery business for mobile operators from Glu Mobile, a leading global publisher of mobile games. ProvisionX allows mobile operators to offer subscribers mobile games with the best purchase experience possible and serves carriers and media companies in Asia, South America and Europe. The addition of ProvisionX to Wmode’s content managed services advances Wmode’s global growth strategy.
With the addition of ProvisionX, Wmode will now operate its comprehensive mobile distribution services for customers in over 20 countries. Games publishers and developers will benefit from Wmode’s global distribution network, allowing them to enter new markets quickly and cost effectively.
“The acquisition of ProvisionX strongly complements our current services by offering a dedicated gaming platform in high growth markets and expanding our reach in key Asian, Latin American and European markets,” stated Emanuel Bertolin, the CEO for Wmode. “We are excited to work closely with the ProvisionX customers and provide them with our industry leading expertise in mobile content distribution.”
Wmode serves over 40 carriers and media companies and works with hundreds of leading content providers. This transaction makes Wmode one of the most recognized international mobile content distribution services in the industry.
“We have been a partner of Wmode for years, and we are confident that their strong operational experience combined with the addition of ProvisionX to their portfolio of services will provide ProvisionX’s current and future customers with innovative services that will enhance their current business,” said Greg Ballard, President and CEO, Glu Mobile.
