Glu Mobile sees FY13 sales down 2% to $106 million, but buoyed by Q4 growth

Predicts a profitable 2014

Glu Mobile sees FY13 sales down 2% to $106 million, but buoyed by Q4 growth

Glu Mobile (NASDAQ: GLUU) has announced its FY13 financials, for the 12 months ending 31 December 2013.

Revenue was $105.6 million, down 2 percent year-on-year.

The company made a loss of $20.1 million compared to a loss of $20.5 million during FY12.

However, Glu's Q4 figures were more positive.

Sales were $34.8 million, up 32 percent, while its net loss was $3.7 million compared to a loss of $7.1 million 12 months ago.

Shooting for success

The key game for Glu during the period has been Deer Hunter 2014, which has performed well in the US. It been downloaded 71 million times globally, generating $27.4 million during Q4. 

It's also recently released Eternity Warriors 3, which is the first title to use its GluOn community platform, which has been developed out of its GameSpy acquisition in 2012.

Glu's also working with Kim Kardashian on a celebrity lifestyle game, has released a tie-in with the RoboCop movie, and has signed a strategic deal to develop a game with top grossing Japanese publisher Colopl.

Up on the fourth

"In Q4 2013 we delivered the strongest quarterly financial performance in our company's history with both non-GAAP revenue and adjusted EBITDA setting Glu all-time records," stated CEO Niccolo de Masi.

"We believe we have begun a new era at Glu. One with solid foundations for a more predictable and sustainably Adjusted EBITDA profitable, operational rhythm."

Indeed, the company expects it will be profitable in terms of non-GAAP net income in FY2014, ending the year with $35 million in cash.

In terms of the present, the company ended 2013 with cash and equivalents of $28.5 million.

[source: Glu Mobile IR]

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