Earnings: Glu Mobile Records Wider Q4 Net Loss Amid Restructuring

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

loading

Comments have been disabled for this post