Earnings: Glu Mobile Records Wider Q4 Net Loss Amid Restructuring

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imageGlu Mobile (NSDQ: GLUU) said in the fourth quarter it reported revenue of $21.6 million, increasing 19 percent compared to the year ago period, however, the company failed to make a profit, and reported a wider net loss compared to a year earlier. The company’s net loss was $37.8 million, or $1.28 a share, compared to the full-year 2007 when it recorded a loss of $912,000, or 3 cents a share. Most of the fourth-quarter loss is attributable to a goodwill impairment of $23.5 million and the impairment of royalty guarantees of $4.2 million. The company said the write-downs were necessary because of current economic environment and a decline in the company’s market capitalization. Greg Ballard, Glu

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smiley Mc Smiley

Another Fantastic performance by Greg, my money is on the share price dipping below .10c

My 401k losses are being offset by shorting the heck out of Gluu right now :)

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