Glu Mobile Reports EPS ($0.02) Vs. ($0.08) Est.; Revenues $15.6M Vs. $14M Est. (GLUU)

Glu Mobile GLUU Reports EPS ($0.02) Vs. ($0.08) Est.; Revenues $15.6M Vs. $14M Est. Glu Mobile today announced preliminary financial results for its fourth quarter and year ended December 31, 2010. Non-GAAP net loss was $(1.1) million for the fourth quarter of 2010 compared to $(3.9) million for the fourth quarter of 2009. Non-GAAP EPS loss was $(0.02) for the fourth quarter of 2010 based on 44.6 million weighted-average diluted shares outstanding, compared to a loss of $(0.13) for the fourth quarter of 2009 based on 30.3 million weighted-average diluted shares outstanding. “We are pleased with our solid fourth quarter results, reflecting the progress we are making with our freemium, social mobile games strategy,” stated Niccolo de Masi, Chief Executive Officer of Glu. “We reported strong growth across many of our key operating metrics, as non-GAAP smartphone revenues increased 38% sequentially to $3.4 million, non-GAAP freemium revenue, or revenue from micro-transactions, in-game advertising and offers, grew by 128% to $1.3 million and monthly active users were up 137% to 12.1 million. Looking forward, we believe that the combination of scale, global cross-platform reach, industry-leading expertise and improved capital structure will enable us to consolidate on our momentum. We anticipate launching approximately 20 to 25 new social, persistent titles this year on our Glu Games Network distribution platform and community.” Elsewhere, “Our solid fourth quarter results highlight our ability to successfully execute our strategy as we leverage our capabilities in the rapidly expanding cross-platform social gaming market,” stated Eric R. Ludwig, Glu's Chief Financial Officer. “With our recently completed financing, we are positioned to continue investing in new initiatives designed to help accelerate the growth of our Glu Games Network.”