LONDON, March 9, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free post-earnings review on Glu Mobile Inc. (NASDAQ: GLUU). On February 04, 2015, the company reported its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=Glu%20Mobile&d=09-Mar-2015&s=GLUU to read our free earnings review on Glu Mobile Inc. (Glu). During Q4 FY14 and full-year FY14, the company's total non-GAAP revenue surged 78% Y-o-Y and 113% Y-o-Y, respectively. CEO of Glu, Niccolo de Masi, stated that Q4 FY14 marked a fantastic finish to a record year for Glu, highlighted by all key metrics coming in above guidance. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=Glu%20Mobile&d=09-Mar-2015&s=GLUU
Earnings Overview
During Q4 FY14, Glu reported record total GAAP revenue of $72.87 million compared to $34.84 million in Q4 FY13. The company's Q4 FY14 total GAAP revenue outperformed Bloomberg analysts' forecast of $63.66 million. Furthermore, Glu's total non-GAAP revenue came in at $76.23 million in Q4 FY14 compared to $42.85 million in Q4 FY13. Free research on GLUU can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=Glu%20Mobile&d=09-Mar-2015&s=GLUU
For Q4 FY14, Glu's GAAP gross margin stood at 56% compared to 69% in Q4 FY13. The company reported GAAP operating income of $5.13 million in Q4 FY14 compared to a GAAP operating loss of $3.47 million in Q4 FY13. In Q4 FY14, the company's total adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to $14.14 million from $6.22 million in Q4 FY13. Glu's GAAP net income in the reported quarter was $1.38 million, or $0.01 per diluted share, compared to GAAP net loss of $3.52 million, or $0.05 loss per diluted share, in Q4 FY13. Analysts from Bloomberg had expected Q4 FY14 GAAP net loss of $2.29 million, or $0.04 loss per diluted share.
Mr. de Masi said that 2014 full-year results take Glu's trailing four-year non-GAAP revenue compound annual growth rate to 37.9%. Sign up and read the free analyst's notes on GLUU at:
http://get.Investor-Edge.com/pdf/?c=Glu%20Mobile&d=09-Mar-2015&s=GLUU
During FY14, Glu's total GAAP revenue increased to $223.15 million from $105.61 million in FY13. The company's FY14 total GAAP revenue missed Bloomberg analysts' forecast of $229.25 million. Moreover, total non-GAAP revenues for FY14 were $241.8 million, compared to $113.4 million in FY13.
In FY14, the company's GAAP gross margin was 62%, compared to 65% in FY13. Glu reported GAAP operating income of $2.07 million in FY14 compared to GAAP operating loss of $22.76 million in FY13. Total non-GAAP adjusted EBITDA stood at $35.1 million in FY14 compared to a loss of $2.3 million in FY13. For FY14, GAAP net income was $8.15 million, or $0.08 per diluted share, compared to GAAP net loss of $19.91 million, or $0.28 loss per diluted share, in FY13. Analysts from Bloomberg had expected FY14 GAAP net income of $4.97 million, or $0.03 diluted per share. Visit Investor-Edge and access the latest research on GLUU at:
http://get.Investor-Edge.com/pdf/?c=Glu%20Mobile&d=09-Mar-2015&s=GLUU
In its guidance for Q1 FY15, Glu expects non-GAAP revenues to be between $50.0 million and $52.0 million with non-GAAP gross margin of approximately 60%. The company anticipates Q1 FY15 non-GAAP net loss to be between $1.0 million, or 0.01 loss per share, and $3.0 million, or $0.03 loss per share. For full-year FY15, the company expects non-GAAP revenues to be in the range of $245.0 million and $275.0 million with non-GAAP gross margin of approximately 61%. Moreover, Glu also anticipates non-GAAP net income to be in the range of $26.0 million, or $0.23 per share, and $31.0 million, or $0.28 per share, for FY15.
Stock Performance
On the day following the earnings release, February 05, 2015, Glu's stock rallied 30.73%, finishing the session at $5.02. Since then, the stock has moved both ways. On the last close, Friday, March 06, 2015, the company's shares finished 2.36% lower at $4.96. Glu's shares vacillated between $4.95 and $5.05 during the session. A total of 1.38 million shares were traded which was below their three months average volume of 3.09 million shares. Over the last one month and past one year, the company's shares have fallen by 1.98% and 4.43%, respectively. However, the stock has surged 33.15% over the previous three months. Shares in the company closed above their 50-day and 200-day moving averages of $4.29 and $4.59, respectively.
Sneak Peek to Corporate Insider Trading
In the last one month, there were nine corporate insider transactions done by five individuals. Between February 17, 2015 and February 18, 2015, a total of 30,267 shares have been disposed at an average price of $5.23 per share and for a total value of $158,296. On February 17, 2015, Chris Akhavan, President of Publishing at Glu, bought 2,722 shares and sold 588 shares at an average price of $5.23 per share. On the same day, Eric R. Ludwig, Chief Operating Officer and Chief Financial Officer at Glu, and Niccolo de Masi disposed 11,744 and 11,317 shares, respectively at an average price of $5.23 per share. Complimentary in-depth research on GLUU is available at:
http://get.Investor-Edge.com/pdf/?c=Glu%20Mobile&d=09-Mar-2015&s=GLUU
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