TORONTO, ONTARIO — (Marketwired) — 01/27/16 — TransGaming Inc. (TSX VENTURE: TNG) (“TransGaming” or the “Company”) today reported its second quarter fiscal 2016 results. The Company–s unaudited interim consolidated financial statements for the three and six months ending November 30, 2015 and Management–s Discussion and Analysis have been filed and are available on SEDAR at .
Highlights
Second quarter fiscal 2016 revenue was $0.8 million, up $0.3 million over the prior quarter and up slightly over the same quarter last year. Adjusted EBITDA loss, including the results of discontinued operations, was $0.2 million for the quarter, an improvement of $0.2 million over the prior quarter. Operating expenses remained flat quarter over quarter at $1.2 million, but down $0.4 million compared to the prior year.
Highlights during and subsequent to the end of the quarter include the Company–s launch of a number of new services and partnerships:
Commenting on the results, Dennis Ensing, CEO of TransGaming stated:
“We had several important accomplishments in the recent quarter that flowed from our key focus of building our base of growing scalable revenue. The launches of services that leverage our 2015 investment in the HTML 5 platform, including Hopper Arcade on DISH Network and GameTree TV Gold on Samsung, bring new subscriber bases to our recurring revenue streams. We are probably most excited about the monetization of new premium content, especially Slots XL. We have brought the first ever social casino game to the millions of connected TVs in our distribution footprint and look forward to replicating the mobile platform success of this content category on Smart TVs.”
Conference Call Details
TransGaming will host an analyst and investor conference call at 10:00 a.m. EST on Thursday January 28, 2016 to review the second quarter fiscal 2016 results. The telephone number for the conference call is +1 (416) 340-2216. 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.
Pioneers in Smart TV entertainment with over 15 years in the industry, TransGaming is dedicated to bringing high-quality games and innovative entertainment services to the living rooms of TV consumers worldwide. TransGaming has partnerships with every major brand of Smart TV manufacturer as well as a number of international pay TV providers. GameTree TV, TransGaming–s cloud-based game service, is accessible to the largest connected TV distribution footprint in the world – available to play on over 150 million connected TV–s. Headquartered in Toronto, with offices in Tel Aviv and Kiev, TransGaming is a public company listed on the TSX Venture Exchange. Discover more 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.
Ankit Patel
Vice President of Finance
+1 416 979-9900 x336
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