May 18th, 2007 by Arjan Olsder Posted in Companies & M&A | No Comments »
Oasys Mobile has announced their first quarter financial results. Though 2006 showed a clear need for investment in the company, 2007 started off with an increase in revenue.
The first quarter shows an 18.8% increase in revenue compared to the first quarter in 2006. The revenue has reached approximately $ 2.51 million in 2007 where in 2006 is was $ 2.12 million.
Net loss was remarkably low in Q1 as it was set at $ 990.000 compared to $ 2.1 million in Q1 2006 which shows the restructuring of Oasys in Q4 2006 seems to be a success. One of the biggest changes was that in 2006, the company was doing heavy marketing for their own portal on B2C level and now they changed that vision to selling it to others as a white label solution on a B2B level.
Net loss to the common shareholder for Q1 was $ 2.37 million which translates to $ 0.17 per share which is better then the $ 0.25 loss per share in 2006.
At March 31st, the company’s cash and accounts receivable where valued at $ 2.83 million.
“The first quarter of 2007 is further proof that Oasys Mobile is continuing to move in the right direction in terms of increasing revenue and reducing costs” stated Doug Dyer, CEO of Oasys Mobile. “This was our second strongest revenue quarter ever, with an almost 20% increase over Q1 2006. Our revenue growth, along with our continued cost reductions and reduced losses offer proof that our new strategy and focus are working.”
“We are actively negotiating more content licensing agreements for new mobile games and applications with our focus firmly on franchise properties that present opportunities for growth year after year. This focus on franchises is no more evident than in our most recent agreement with 2K. The Sid Meijer “sim” games have been globally successful franchises for years, selling millions of games across multiple platforms, with mobile now being the latest.”
