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Glu Mobile Posts Slimmer Net Losses For First Quarter 2011

San Francisco-based mobile game publisher Glu Mobile (Gun Bros.) has posted a drop in fiscal first quarter revenues and a slimmer quarterly loss of $3.2 million compared to $3.7 million year-on-year.
San Francisco-based mobile game publisher Glu Mobile (Gun Bros.) has posted a drop in revenues and slimmer quarterly losses for the fiscal first quarter ended March 31. The company's total revenue for the first quarter was $16.4 million, down from $17.3 million in the first quarter of fiscal 2010. GAAP quarterly losses were $3.2 million compared to a $3.7 million loss for the comparable quarter a year ago. Stating expectations for the second quarter, Glu said that revenue is expected to be between $15 million and $16.5 million, with non-GAAP net loss between $1.9 million and $3.1 million. Earlier this week, the publisher revealed that it had partnered with controversial author James Frey to develop cross-media IP that includes action-adventure novels being translated into mobile games. It was also revealed that Glu will be working with developer Blammo Games to publish two new titles within the next year. These two titles will join Glu's current roster of published games, which include mobile titles from major publishers including Activision, Konami, and Warner Bros., as well as a handful of titles based on original IP.

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