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Mobile Firm Jamdat Announces Increased Revenue, Profit
by Simon Carless [Console/PC, Mobile Phone]
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November 8, 2005
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Mobile game publisher and developer Jamdat has announced promising third quarter 2005 results, revealing revenue of $20.2 million, a 113% increase over the third quarter 2004, and a profit of $1.4 million, compared to a profit of just $8,000 in the third quarter 2004.
A particular highlight for the company's quarter is that control of all worldwide wireless rights to Tetris has now reverted to Jamdat, following the company's acquisition of mobile firm Blue Lava. During the third quarter, or subsequent to the quarter end, the company launched versions of the game, a continuing cash cow for mobile gaming, in Europe, Korea, South America and Japan. In addition, the company's game Downtown Texas Hold 'Em became a best seller in the United Kingdom.
Jamdat's CEO Mitch Lasky commented of the results and prospects for the future: "We are pleased with our third quarter results, as we continued to experience very strong year-over-year growth... Initial customer response to our newest releases, Doom RPG and SOCOM: US Navy SEALS Mobile Recon has been extremely positive. With our current and upcoming product offerings, we are very optimistic about the business as we move into 2006."
Looking forward, for the full year ending December 31, 2005, the company expects revenues of approximately $78 to $80 million with adjusted net income of approximately $0.80 to $0.84 per diluted share, and for the full year ending December 31, 2006, JAMDAT expects annual revenues of approximately $120 million and an adjusted net income margin in the range of 20% to 25%. The company's shares, recently down significantly, jumped back up in after-hours trading on these positive results, up over 13% to $20.05.
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