TransGaming Reports Fiscal Year 2012 Second Quarter Results
TransGaming Inc. has reported its second quarter fiscal year 2012 results. The Company’s unaudited interim consolidated financial statements for the three and six months ended November 30, 2011 and Management’s Discussion and Analysis have been filed and are available on Sedar.
Highlights
- Revenue for the first six months of fiscal year 2012 was US $2,319,046, up 8.4% over the same period last year.
- For the three months ended November 30, 2011 revenue was US $1,320,711, an increase of 13.9% from the same period in the previous year and US $322,376 or 32.3% higher sequentially from the previous quarter.
- In the quarter, TransGaming tripled the size of the GameTree™ TV catalogue available to users to over 75 titles in the six months since its launch with France-based broadband service provider, Free, in May 2011.
- The “GameTree TV GamePass” was launched on December 1, 2011. With this new monthly subscription service, GamePass subscribers enjoy a 12-game monthly bundle at a rate of € 4.99 per month.
- Subsequent to quarter-end the Company announced that it had successfully completed the strategic acquisition of the assets of the Interactive TV (iTV) & Connected TV division of Oberon Media, Inc.
Commenting on the results, Mr. Vikas Gupta, CEO & President of TransGaming stated, “The second quarter of fiscal year 2012 continued the strong momentum of the first quarter, as can be seen in the double-digit percentage increase in revenues as compared to the previous year. TransGaming exhibited strong growth led by our core businesses from our consumer offerings to our enablement technologies.”
Mr. Gupta concluded by saying that “The second quarter was spent laying the foundation for future success and the reinforcement of TransGaming’s leadership position with the acquisition of Oberon Media’s iTV & Connected TV division. This acquisition yields us incredible growth in market size, feature sets and content. In a period where Smart TV and the connected living room are being hailed as the next major opportunity for innovative and entrepreneurial companies, TransGaming has further established itself as an influential pioneer, defining the course of the connected living room.”
