Increased Tablet Usage & Smartphone Improvements Fueling
Rapid Growth Of Mobile Gaming Industry; Company Reports 159%
Revenue Increase
Coral Springs, FL -- March 29, 2016 -- InvestorsHub
NewsWire -- Mobile Gaming dominates revenue and usage of the
gaming sector as a whole due to users' time spent increasingly more
on smartphones and tablets. Some of the top companies
include. Today's innovative digital gaming and mobile game
publishers of interest in the markets are Tapinator, Inc. (OTC:
TAPM), Electronic Arts Inc. (NASDAQ: EA), LeapFrog Enterprises,
Inc. (NYSE: LF), Take-Two Interactive Software Inc. (NASDAQ: TTWO)
and Glu Mobile, Inc. (NASDAQ: GLUU).
Tapinator, Inc. (OTC: TAPM), an emerging growth company within
the mobile gaming industry, today announced financial results for
the period ended December 31, 2015, and the filing of its annual
report and audited financial statements for the years ended
December 31, 2015 and 2014. The annual report and audited
financial statements may be found at http://www.otcmarkets.com/stock/TAPM/filings. ;
Tapinator continued to show solid business expansion in the fourth
quarter of 2015, stated Tapinator CEO, Ilya Nikolayev. Our
fourth quarter revenues grew 87% year-over-year to approximately
$693,000, representing our sixth consecutive quarter of at least
double-digit year-over-year revenue growth. Our revenue
expansion can be attributed to both the continued broadening of our
rapid-launch games portfolio, as well as our continued investment
into a select number of full-featured titles that we believe have
significant franchise potential. In addition to our strong
revenue growth, Tapinator is also pleased to announce adjusted
EBITDA (a non-GAAP measure) of approximately $150,000 in the fourth
quarter of 2015, an increase of 187% year-over-year and our seventh
consecutive quarter of positive adjusted EBITDA.
Read the full Tapinator (TAPM) Press Release at http://www.financialnewsmedia.com/profiles/tapm.html
For the year ended December 31, 2015, Tapinator achieved revenue
of approximately $2.49 million and adjusted EBITDA of approximately
$523,000, representing year-over-year growth rates of 159% and
414%, respectively. We are very pleased with of our accomplishments
in 2015, in terms of our financial performance, product traction
and user growth. Tapinator was able to deliver these results
even as we continue to make substantial investments in our new game
development, human resources, marketing and data/analytics
infrastructure. We believe that we have laid the appropriate
groundwork to allow Tapinator to support a much larger enterprise
and we look forward to demonstrating continued business growth in
2016 and beyond."
Financial Highlights From TAPM Report
- Annual revenue of $2,448,051; up 159% year-over-year
- Quarterly revenue of $692,682; up 87% year-over-year
- Annual adjusted EBITDA (a non-GAAP measure) of $522,894; up
414% year-over-year*
- Quarterly adjusted EBITDA (a non-GAAP measure) of $149,707; up
187% year-over-year*
- $1.49 million in cash and cash equivalents as of December 31,
2015
In other gaming / digital download developments and recent
happenings: Electronic Arts Inc. (NASDAQ: EA) recently
announced the official launch of EA SPORTS UFC 2, available in
retail stores and as a digital download on Xbox One and PlayStation
4. The game features the largest roster ever for an official UFC
game, boasting more than 250 athletes, including cover stars, UFC
featherweight champion Conor McGregor and former UFC bantamweight
champion Ronda Rousey. The game also includes all-time fighting
legends like Mike Tyson, UFC Hall-of-Famer Bas Rutten, Kazushi
Sakuraba, and Bruce Lee all unlockable by making it to the UFC Hall
of Fame in Career Mode. EA SPORTS UFC 2 also introduces a Knockout
Physics System that, when paired with thousands of new animations
and updated character likenesses, makes knockouts more dynamic and
realistic than ever.
VTech Holdings Limited earlier this month announced the
commencement of its cash tender offer for all outstanding shares of
Class A common stock and Class B common stock of LeapFrog
Enterprises, Inc. (NYSE: LF) for US$1.00 per share. The tender
offer is being made pursuant to an Offer to Purchase, dated 3 March
2016, and in connection with the Agreement and Plan of Merger,
dated 5 February 2016, among VTech, Bonita Merger Sub, L.L.C., an
indirect wholly-owned subsidiary of VTech, and LeapFrog, as
amended, which VTech and LeapFrog announced on 5 February
2016. The tender offer is scheduled to expire at 11:59 p.m.,
New York City time, on 1 April 2016, unless the tender offer is
extended. Following the completion of the tender offer, VTech
expects to consummate a merger without a vote of LeapFrog
stockholders in which the remaining LeapFrog stockholders will
receive the same cash price per share as paid in the tender offer.
The tender offer and merger are subject to customary closing
conditions, including the acquisition by VTech of a majority of
LeapFrog's stock in the tender offer.
Take-Two Interactive Software Inc. (NASDAQ: TTWO) - 2K and
GameStop Corp. recently announced that WWE SuperToken, the
collectible token series offering in-game content for 2Ks popular
mobile card-battling game, WWE SuperCard, is available now
exclusively at GameStop retail locations nationwide. Offered as a
limited edition, WWE SuperToken delivers a power-packed lineup of
WWE talent through 10 collectible tokens, including WWE Superstars
John Cena, Brock Lesnar, Roman Reigns and Dean Ambrose, as well as
WWE Diva Paige. Each collectible token, available for $6.99, grants
three cards in WWE SuperCard: one Ultra Rare card featuring the
likeness of the featured WWE Superstar or Diva and two Rare mystery
cards. The tokens can then be shared up to three times, giving
others access to a Super Rare card of the featured WWE Superstar or
Diva. In addition, each token will have a unique distribution
quantity, making some offerings rarer in nature than others.
Glu Mobile Inc. (NASDAQ: GLUU), a leading global developer and
publisher of free-to-play games for smartphone and tablet devices,
last month announced the availability of Kendall & Kylie on the
App Store and Google Play. Featuring the voices, likenesses, and
exclusive video messages from Kendall and Kylie Jenner, the game
allows players to interact with the sisters as friends and mentors
as players work to realize their creative and career aspirations.
Advanced character customization lets players pick and change their
unique style, then share their content to grow followers!
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