Glu Mobile (NSDQ: GLUU), the mobile game publisher that went public in March and is known for titles such as Super K.O. Boxing! and Brain Genius, reported a Q4 net loss of $861,000, or 3 cents a share on revenues of $18.1 million. In the year ago period, it lost $2.3 million or 44 cents a share on revenues of $14.3 million. For the full year, Glu lost $3.3 million or 14 cents a share on revenues of $66.9 million. In 2006, the company lost $12.3 million or $2.48 a share on revenues of $46.2 million. In after-hours trading, the results lifted Glu’s stock by 57 cents, or almost 13 percent, to trade at $5.10 a share. Earnings release | Webcast
The company said it is growing on three fronts — by securing long-term licenses, expanding geographically and consolidating market share. If its January bid to acquire British rival Superscape Group goes through it would be the second-largest supplier of games in the U.S., and be close to market leader Electronic Arts (NSDQ: ERTS). During the call, Glu said that its offer to buy Superscape expires Friday, and they will announce the outcome on Monday.
Looking at some of the top metrics for the game industry, Glu did quite well. It said its top 10 titles represented 52 percent of revenues in Q4, which was down only slightly compared to the 53 percent in the year ago period. The average revenue per top ten title was $950,000, an increase of 26 percent compared to $751,000 in Q4 2006. For the full year, the average revenue per top ten title was $3.5 million, an increase of 40 percent compared to $2.5 million in 2006.
During the call, analysts asked about the effect Google’s (NSDQ: GOOG) Android operating system was having on the industry. CEO Greg Ballard: “Android is definitely one of the big developments going on in an industry of big developments.” He said there have been a number of noteworthy events, including Android, the iPhone and even today’s news of Microsoft’s (NSDQ: MSFT) acquisition of Danger that will push the mobile industry into a next phase.
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