JAMDAT reports positive second quarter results
Los Angeles based mobile game publisher and developer, JAMDAT, has announced its second quarter 2005 results, with notable earnings- but its prospects in the current quarter and for the full fiscal year have not impressed investors.
Los Angeles based mobile game publisher and developer, JAMDAT, has announced its second quarter 2005 results, with notable earnings- but its prospects in the current quarter and for the full fiscal year have not impressed investors.
Revenues for the post-IPO mobile company reached $19.3 million, a 27 per cent increase over the $15.1 million reported in the first quarter ending June 30 2005, compared to the $8.4 million of the same quarter a year ago. Net earnings of $2.6 million were also vastly improved over the $423,000 gained from the same time 12 months ago.
However, this was evidently not enough for investors, with the share price dropping almost 25 per cent in after hours trading, hitting $22.25. For the current quarter, JAMDAT estimated revenue of around $20 to $21 million, with a full year's revenue of approximately $80 million, reducing its forecast of profits for the coming year to $0.55 cents a share, with analysts expecting $0.77.
Further Reading: EA linked to potential JAMDAT acquisition