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Mobile game publisher and developer Jamdat has announced positive second quarter 2005 results, revealing that revenues for the post-IPO mobile company were $19.3 million,...

Simon Carless, Blogger

August 11, 2005

2 Min Read

Mobile game publisher and developer Jamdat has announced positive second quarter 2005 results, revealing that revenues for the post-IPO mobile company were $19.3 million, a 27% increase over the $15.1 million reported in the first quarter of 2005, and a 128% increase over the $8.4 million reported in the second quarter of 2004. Profits for the quarter for the Tetris, Bejeweled, and Jamdat Bowling mobile publisher/developer were $2.6 million, compared to profits of approximately $0.4 million in the prior year period, good news for the company, whose stock has recently been skyrocketing, partly on rumors that major publishers such as Electronic Arts might be considering a purchase. However, the company's results were evidently not spectacular enough for investors, particularly Jamdat's guidance for the full year for revenue of approximately $80 million, and GAAP earnings per diluted share of approximately $0.42. The company has previously predicted it would earn $0.55 cents a share, and analysts were hoping for $0.77, and as a result, Jamdat shares were down a significant $6.19, or just over 20%, to $23.30 in after-hours trading. Nonetheless, its financial release, Jamdat listed some of the key announcements in the last financial quarter, including the acquisition of Tetris mobile license holders Blue Lava Wireless, which came with a 15 year, exclusive license to the wireless rights for Tetris. In addition, the company signed with id Software for exclusive wireless distribution rights to DOOM RPG, currently a pet project of John Carmack himself, for mobile phones, and acquired exclusive wireless distribution rights to SOCOM: U.S. Navy SEALs from Sony Computer Entertainment America. Despite some investor uncertainty over the company's outlook, Jamdat's Chief Executive Officer, Mitch Lasky, commented of the financial results: "We are very pleased with our strong second quarter results, and in particular, with the completion of our integration of Blue Lava and the Tetris property into our product slate."

About the Author(s)

Simon Carless

Blogger

Simon Carless is the founder of the GameDiscoverCo agency and creator of the popular GameDiscoverCo game discoverability newsletter. He consults with a number of PC/console publishers and developers, and was previously most known for his role helping to shape the Independent Games Festival and Game Developers Conference for many years.

He is also an investor and advisor to UK indie game publisher No More Robots (Descenders, Hypnospace Outlaw), a previous publisher and editor-in-chief at both Gamasutra and Game Developer magazine, and sits on the board of the Video Game History Foundation.

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