Shares of Glu Mobile Inc. (NASDAQ:GLUU) ended Friday session in green amid volatile trading. The shares closed up +0.02 points or 0.87% at $2.32 with 938,857.00 million shares getting traded. Post opening the session at $2.30, the shares hit an intraday low of $2.29 and an intraday high of $2.34 and the price vacillated in this range throughout the day. The company has a market cap of $304.62 million and the numbers of outstanding shares have been calculated to be 133.00 million shares.
Glu Mobile Inc. (GLUU) on August 3, 2016 announced financial results for its second quarter ended June 30, 2016.
“Our ability to exceed expectations in the quarter was driven by the strong Tap Sports Baseball 2016 launch as well as the ongoing success of Cooking Dash 2016, Kim Kardashian: Hollywood and Racing Rivals,” stated Niccolo de Masi, Chairman and Chief Executive Officer of Glu.
De Masi continues, “We believe there is significant latent revenue potential in our genre-leading live games. By learning from Tencent and deepening monetization of our biggest spenders and most engaged players, we anticipate it being possible to not only arrest catalogue declines, but reverse them. Our goal is to achieve profitability from our catalogue Bookings alone by the end of 2017.
“Over the past 6.5 years Glu has shipped over 85 games. Having built a diversified portfolio of genre-leaders, we now intend to double down on turning them into evergreen revenue generators. Henceforth we shall prioritize adding new modes, systems and community-enhancing features to our existing games to evolve them into evergreen games. We believe this new focus will allow us to grow Bookings significantly in the first half of 2017 and beyond.
Second Quarter 2016 Financial Highlights:
- Revenue: Total revenue was $48.4 million in the second quarter of 2016 compared to $56.2 million in the second quarter of 2015.
- Bookings: Total Bookings were $50.9 million in the second quarter of 2016, compared to $57.5 million in the second quarter of 2015. Bookings do not reflect the deferral of certain game revenue that Glu recognizes over the estimated useful lives of paying users of Glu’s games and excludes changes in deferred revenue and litigation settlement proceeds. Glu’s presentation of Bookings is consistent with Glu’s previous disclosure of non-GAAP revenue.
- Gross Margin: Gross margin was 57% in the second quarter of 2016 compared to 58% in the second quarter of 2015. Adjusted gross margin was 63% in the second quarter of 2016, consistent with the second quarter of 2015. Adjusted gross margin, which is consistent with Glu’s previous disclosure of non-GAAP gross margin, excludes changes in deferred revenue and litigation settlement proceeds, change in deferred cost of revenue, amortization of intangible assets and non-cash warrant expense.
- Operating Loss: Operating loss was $(13.5) million in the second quarter of 2016 compared to a loss of $(6.1) million in the second quarter of 2015.
Shares of ARI Network Services, Inc. (NASDAQ:ARIS) ended Friday session in green amid volatile trading. The shares closed up +0.02 points or 0.46% at $4.38 with 24,111.00 million shares getting traded. Post opening the session at $4.37, the shares hit an intraday low of $4.35 and an intraday high of $4.45 and the price vacillated in this range throughout the day. The company has a market cap of $74.43 million and the numbers of outstanding shares have been calculated to be 17.27 million shares.
ARI Network Services, Inc. (ARIS) on August 30, 2016 announced that its Endeavor RV dealer website platform now integrates with RVT.com, a leading Internet classified ads site for new and used RVs, travel and fifth wheel trailers, motor homes and campers.
“Current positive trends in RV consumer spending, coupled with our deep roots in the RV industry and lifestyle, have allowed us to create an online platform that connects RV dealers with consumers,” said Shawn Friesen, Sr. Vice President, RVT.com. “With this new integration, RV dealers in North America with an ARI-powered website will be able to seamlessly upload their current new and used inventory and reach millions of in-market shoppers on RVT.com.”
The integration allows RV dealers to post new and used inventory listings on the RVT.com marketplace directly from their ARI-powered website’s administration panel — saving time and increasing unit exposure, which drives more leads online and in-store. Using ARI’s rich product information, dealers can easily create the most complete and compelling listings on the marketplace.
“Managing new and used inventory can be a challenge for RV dealers, especially during peak season,” said Justin Di Vilio, ARI’s Director of Business Development – RV. “Third-party sales channels like RVT.com play an important role in helping dealers expand their online presence to reach a broader audience of RV consumer buyers to generate more qualified RV leads and in-store sales.”