Oasys Mobile saw its revenue increase 6.4% yea-on-year in the first quarter, from $1.99 million in Q1 2005 to $2.12 million in Q1 2006. “This is the company’s highest quarterly revenue achievement to date, and represents an 8.4% increase over Q4 2005 revenue of approximately $1.95 million.”
That’s the good news — the bad news is the net loss also went up, from $696,000 in Q1 2005 to approximately $2.10 million this year. “Net loss applicable to common shareholders for the first quarter of 2006 was approximately $3.41 million or $0.25 per share, versus approximately $1.64 million or $0.13 per share, for the same period in 2005. Net loss for the first quarter included the after-tax effect of $316,000 for the expensing of stock options, and approximately $1.2 million related to amortization of discount on debt and beneficial conversion feature.” Oasys has around $8.2 million in the bank, so it can’t continue this performance for much longer.
Oasys has some options overseas, forming a partnership with The Mobile Media Company to distribute games to 42 European carriers, as well as expanding the rights of its Mattel licenses across Europe, Canada, Latin America, Australia and New Zealand.
Related stories:
–Oasys Mobile Reports Strong Revenue And Loss Rises
–Summus Becomes Oasys Mobile, Unveils Mobile Locker
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