Glu 2007 Results

US mobile game publisher Glu Mobile (NASDAQ: GLUU) announced details of the company's sales results for Q4 2007 and for all of 2007. For the 4th quarter of 2007, Glu reported a net loss of $861,000, on revenues of $18.1 million. In the same period last year Glu lost $2.3 million on revenues of $14.3 million. For the full year, Glu lost $3.3 million on revenues of $66.9 million. In 2006, the company lost $12.3 million on revenues of $46.2 million.

The company said it is growing on three fronts—by securing long-term licenses, expanding geographically and consolidating market share.

Glu is hoping to grow through acquisition as well, having targeted British rival Superscape Group. (LON:SPS) If the acquisition goes through, Glu would become the second-largest supplier of mobile games in the U.S., and be close to market leader Electronic Arts (NASDAQ: ERTS). During the call, Glu said that its offer to buy Superscape expires Friday, and they will announce the outcome on Monday.

"We closed a solid 2007 with a strong fourth quarter," said Greg Ballard, Glu's chief executive officer. "Over the past 12 months, we significantly raised our market position by securing world-class, long-term licenses, expanding geographically and consolidating market share. Our title line-up for 2008 provides a solid foundation for our success in the coming year. In addition, we are focused on increasing our global opportunities with the addition of MIG and the proposed acquisition of Superscape."