Ramping up to launch new games, mobile publisher Glu (Toyshop Adventures, DJ Hero Mobile, Gun Bros
) saw a slightly increased $1.6 million in losses during its third fiscal quarter, as its sales declined from $19.6 million to $15.5 million year over year.
But the company, once a strong player on mobile phones before the smartphone shift, is aiming to reposition its business through an increased focus on in-game advertising and microtransactions, which grew 98 percent during the period.
The company saw a 12 percent increase in revenue from smartphone games and a 15 percent increase in its base of monthly active users.
"With our goal of launching five to six new social, persistent titles every quarter beginning in the fourth quarter of 2010, I am cautiously optimistic that our smartphone and tablet revenue growth will accelerate in 2011," said CEO Niccolo de Masi.
The company also announced that Ben Smith IV, an early investor in Tapulous who was involved in its sale to Disney
, has joined its board. As Smith is an investor and board member on other social platforms, Glu hopes to benefit from his insight.
"While we continue to carefully manage costs, we expect to increase our investments in marketing to support the launch of our new products during the fourth quarter of 2010," said CFO Eric Ludwig.
"With a significantly strengthened balance sheet, I am confident that Glu is in position to successfully implement its strategy."