Increased Tablet Usage & Smartphone Improvements Fueling Rapid Growth Of Mobile Gaming Industry; Company Reports 159% Revenue Increase

Mar 29, 2016, 08:30 ET from FN Media Group LLC

CORAL SPRINGS, Florida, March 29, 2016 /PRNewswire/ --

Mobile Gaming dominates revenue and usage of the gaming sector as a whole due to users' time spent increasingly more on smartphones and tablets. Some of the top companies include.  Today's innovative digital gaming and mobile game publishers of interest in the markets are Tapinator, Inc. (OTC: TAPM), Electronic Arts Inc. (NASDAQ: EA), LeapFrog Enterprises, Inc. (NYSE: LF), Take-Two Interactive Software Inc. (NASDAQ: TTWO) and Glu Mobile, Inc. (NASDAQ: GLUU).

Tapinator, Inc. (OTC: TAPM), an emerging growth company within the mobile gaming industry, today announced financial results for the period ended December 31, 2015, and the filing of its annual report and audited financial statements for the years ended December 31, 2015 and 2014.  The annual report and audited financial statements may be found at http://www.otcmarkets.com/stock/TAPM/filings.  "Tapinator continued to show solid business expansion in the fourth quarter of 2015," stated Tapinator CEO, Ilya Nikolayev.  "Our fourth quarter revenues grew 87% year-over-year to approximately $693,000, representing our sixth consecutive quarter of at least double-digit year-over-year revenue growth.   Our revenue expansion can be attributed to both the continued broadening of our rapid-launch games portfolio, as well as our continued investment into a select number of full-featured titles that we believe have significant franchise potential.  In addition to our strong revenue growth, Tapinator is also pleased to announce adjusted EBITDA (a non-GAAP measure) of approximately $150,000 in the fourth quarter of 2015, an increase of 187% year-over-year and our seventh consecutive quarter of positive adjusted EBITDA. 

Read the full Tapinator (TAPM) Press Release at  http://www.financialnewsmedia.com/profiles/tapm.html

For the year ended December 31, 2015, Tapinator achieved revenue of approximately $2.49 million and adjusted EBITDA of approximately $523,000, representing year-over-year growth rates of 159% and 414%, respectively. We are very pleased with of our accomplishments in 2015, in terms of our financial performance, product traction and user growth.  Tapinator was able to deliver these results even as we continue to make substantial investments in our new game development, human resources, marketing and data/analytics infrastructure.  We believe that we have laid the appropriate groundwork to allow Tapinator to support a much larger enterprise and we look forward to demonstrating continued business growth in 2016 and beyond."

Financial Highlights From TAPM Report 

  • Annual revenue of $2,448,051; up 159% year-over-year
  • Quarterly revenue of $692,682; up 87% year-over-year
  • Annual adjusted EBITDA (a non-GAAP measure) of $522,894; up 414% year-over-year*
  • Quarterly adjusted EBITDA (a non-GAAP measure) of $149,707; up 187% year-over-year*
  • $1.49 million in cash and cash equivalents as of December 31, 2015

In other gaming / digital download developments and recent happenings:  Electronic Arts Inc. (NASDAQ: EA) recently announced the official launch of EA SPORTS™ UFC® 2, available in retail stores and as a digital download on Xbox One and PlayStation 4. The game features the largest roster ever for an official UFC game, boasting more than 250 athletes, including cover stars, UFC featherweight champion Conor McGregor and former UFC bantamweight champion Ronda Rousey. The game also includes all-time fighting legends like Mike Tyson, UFC Hall-of-Famer Bas Rutten, Kazushi Sakuraba, and Bruce Lee - all unlockable by making it to the UFC Hall of Fame in Career Mode. EA SPORTS UFC 2 also introduces a Knockout Physics System that, when paired with thousands of new animations and updated character likenesses, makes knockouts more dynamic and realistic than ever.

VTech Holdings Limited earlier this month announced the commencement of its cash tender offer for all outstanding shares of Class A common stock and Class B common stock of LeapFrog Enterprises, Inc. (NYSE: LF) for US$1.00 per share. The tender offer is being made pursuant to an Offer to Purchase, dated 3 March 2016, and in connection with the Agreement and Plan of Merger, dated 5 February 2016, among VTech, Bonita Merger Sub, L.L.C., an indirect wholly-owned subsidiary of VTech, and LeapFrog, as amended, which VTech and LeapFrog announced on 5 February 2016.  The tender offer is scheduled to expire at 11:59 p.m., New York City time, on 1 April 2016, unless the tender offer is extended. Following the completion of the tender offer, VTech expects to consummate a merger without a vote of LeapFrog stockholders in which the remaining LeapFrog stockholders will receive the same cash price per share as paid in the tender offer. The tender offer and merger are subject to customary closing conditions, including the acquisition by VTech of a majority of LeapFrog's stock in the tender offer.

Take-Two Interactive Software Inc. (NASDAQ: TTWO) - 2K and GameStop Corp. recently announced that WWE® SuperToken™, the collectible token series offering in-game content for 2K's popular mobile card-battling game, WWE SuperCard, is available now exclusively at GameStop retail locations nationwide. Offered as a limited edition, WWE SuperToken delivers a power-packed lineup of WWE talent through 10 collectible tokens, including WWE Superstars John Cena, Brock Lesnar, Roman Reigns and Dean Ambrose, as well as WWE Diva Paige. Each collectible token, available for $6.99, grants three cards in WWE SuperCard: one Ultra Rare card featuring the likeness of the featured WWE Superstar or Diva and two Rare mystery cards. The tokens can then be shared up to three times, giving others access to a Super Rare card of the featured WWE Superstar or Diva. In addition, each token will have a unique distribution quantity, making some offerings rarer in nature than others.

Glu Mobile Inc. (NASDAQ: GLUU), a leading global developer and publisher of free-to-play games for smartphone and tablet devices, last month announced the availability of Kendall & Kylie on the App Store and Google Play. Featuring the voices, likenesses, and exclusive video messages from Kendall and Kylie Jenner, the game allows players to interact with the sisters as friends and mentors as players work to realize their creative and career aspirations. Advanced character customization lets players pick and change their unique style, then share their content to grow followers!

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