TORONTO, ONTARIO — (Marketwired) — 04/29/13 — TransGaming Inc. (TSX VENTURE: TNG) (“TransGaming” or the “Company”) today reported its third quarter fiscal year 2013 results. The Company-s unaudited interim consolidated financial statements for the three and nine months ended February 28, 2013 and Management-s Discussion and Analysis have been filed and are available on SEDAR at .
Highlights
TransGaming-s third quarter of fiscal 2013 was the second best quarter in the company-s history. Highlights during and subsequent to the quarter include:
Commenting on the results, Vikas Gupta, CEO & President of TransGaming stated:
“The last few quarters have been focused on major internal changes, restructuring, and cost constraining towards stabilizing the business. Q3 is evident of the positive impact of these measures. Having achieved the second strongest quarter within the company-s history, being within $100,000 of break-even, and with the confidence that Q4 will be a historic record quarter, this period represents a crucial inflection point for TransGaming.
“We are further encouraged by the strength of a range of business milestones. Signing distribution agreements with Opera Software and Roku are important developments for our Digital Media Group. These and the numerous other distribution agreements that will be announced in the coming weeks and months, will drive revenue in the next fiscal year and scale the GameTree TV business. The Graphics & Portability Group has also seen tremendous growth and success with new licensing agreements with large game developers and publishers. The success of the technology licensing within this group is further underscored by the recent $1 million license with a Fortune 1000 corporation and the strategic agreement with Google for an expanded SwiftShader license.
“The culmination of our collective hard work is a company that has reached self-sustainability and is now poised for profitability. We believe we have turned the corner and our outlook for the future is positive.”
Conference Call Details
TransGaming will host an analyst and investor conference call at 10:00 a.m. ET on Tuesday April 30, 2012 to review the third quarter fiscal 2013 results. The telephone number for the conference call is +1 (416) 695-6622. The call will be recorded and a digital replay will be available on the Company-s Investor Relations portion of its website at: .
About TransGaming Inc.
TransGaming Inc. (TSX VENTURE: TNG) is the global leader in developing and delivering platform-defining social video game experiences to consumers around the world. From engineering essential technologies for the world-s leading companies, to engaging audiences with truly immersive interactive experiences, TransGaming fuels disruptive innovation across the entire spectrum of consumer technology. TransGaming-s core businesses span the digital distribution of games for Smart TVs, next-generation set-top boxes, and the connected living room, as well as technology licensing for cross-platform game enablement, software 3D graphics rendering, and parallel computing. Visit us at .
FORWARD-LOOKING STATEMENTS
Certain statements in this document may constitute “forward-looking” statements, which involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this document, such statements use words like “may”, “will”, “expect”, “continue”, “believe”, “plan”, “intend”, “would”, “could”, “should”, “anticipate” and other similar terminology. These statements reflect current assumptions and expectations regarding future events and operating performance and speak only as of the date of this document. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the “Risk Factors” section of the Company-s the most recently filed Annual Information Form which is available on SEDAR at .
Although the forward-looking statements contained in this document are based upon what we believe are reasonable assumptions, we cannot assure investors that our actual results will be consistent with these forward-looking statements. We assume no obligation to update or revise these forward-looking statements to reflect new events or circumstances, except as required by securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
TransGaming Inc.
Dennis Ensing
Chief Financial Officer
1 416 979-9900 x321
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