Click here to close now.


News Feed Item

TransGaming Reports Third Quarter Fiscal 2014 Results

TORONTO, ONTARIO -- (Marketwired) -- 04/29/14 -- TransGaming Inc. (TSX VENTURE: TNG) ("TransGaming" or the "Company"), a global leader in delivering innovative technology solutions for the rapidly evolving video games industry, today reported its third quarter fiscal 2014 results. The Company's unaudited interim consolidated financial statements for the three and nine months ending February 28, 2014 and Management's Discussion and Analysis have been filed and are available on SEDAR at


TransGaming reported third quarter fiscal 2014 revenue of $1.2 million and $5.0 million for the nine months ending February 28, 2014. The net loss for the quarter was $0.46 million with adjusted EBITDA earnings of $0.1 million. During the quarter, the Company announced the strategic restructuring of its Graphics and Portability Group, including the hiring of a new Vice President to execute on its new strategic initiatives and drive long-term revenue growth. The following highlights should be noted:

--  Initiated a strategic restructuring of its Graphics and Portability
    Group to achieve greater scale and revenue by adding outbound technology
    licensing (including source code licensing), game publishing and support
    for the enablement of PC games to Android, iOS, and Steam OS
--  Announced that games industry veteran Fredrik Liljegren was joining the
    Company as Vice President of its Graphics and Portability Group,
    bringing with him decades of technology and gaming leadership experience
--  Announced that it was partnering with Samsung, the world's largest
    consumer electronics company, to bring the GameTree TV platform to
    Samsung Smart TVs globally
--  Announced that it was partnering with Toshiba Europe GmbH to bring the
    GameTree TV platform to Toshiba Smart TVs globally
--  Subsequent to quarter end, announced that GameTree TV will provide games
    for Sharp's Aquos SmartCentral 3.0 Smart TV platform
--  Subsequent to quarter end, announced the release of Star Trek Online,
    the award-winning free-to-play MMORPG for the Mac
--  Closed an equity offering in February 2014 raising gross proceeds of
    CA$4.6 million
--  Reported cash and cash equivalents of $5.3 million
--  Reported adjusted EBITDA earnings of $0.1 million, including an
    unrealized gain on foreign currency exchange of $0.8 million

Commenting on the results, Vikas Gupta, CEO & President of TransGaming stated:

"We've delivered consistent growth over the last many quarters and have demonstrated cash flow neutrality or profitability. Now, it's time for us to accelerate our growth, scale the company, and be poised to take advantage of new technology and business model trends within our industry. We are very excited about the restructuring of the Graphics & Portability Group, being led by a new Vice President who is a highly accomplished games industry veteran, and are confident that our strategic changes will yield incredible market traction and results in the quarters to come. TransGaming has also closed many new channel partner agreements for GameTree TV and we are now cultivating a growing addressable market into active users. Although still a young and nascent market, we are ahead of everyone else in this marathon and are aggressively working on monetizing users.

"We are no longer managing the company to survive in difficult economic times. We've done this and we've demonstrated our ability to weather the storm. It's now time to focus on growth. Our changes, our decisions, our outlook are now about building and scaling TransGaming."

Conference Call Details

TransGaming will host an analyst and investor conference call at 10:00 a.m. EST on Wednesday April 30, 2014 to review the third quarter fiscal 2014 results. The telephone number for the conference call is +1 (416) 340-2218. 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) engineers technologies that ignite experiences, delighting audiences around the world. From its roots as a trailblazer in cross-platform enablement, TransGaming has expanded to deliver essential solutions fuelling software 3D graphics rendering, parallel computing, and the distribution of digital content. TransGaming's disruptive innovations are now used by everyone from home consumers, to the largest and most influential tech companies in the world. Visit us at


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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Cloud computing is unquestionably one of the driving forces of DevOps, as the automation of operations transforms enterprise software development. DevOps, however, is more than a technology trend, as it represents a move toward silo-busting, self-organizing horizontal teams that drive business velocity. At the same time, enterprise Digital Transformation represents an upheaval across the enterprise, as customer preferences and behavior drive enterprise technology decisions. This transformation ...
"eFolder does a lot of different things but we protect data and we are focused on protecting data no matter where it resides," explained Carlo Tapia, Product Marketing Manager at eFolder, in this interview at Cloud Expo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Most of the IoT Gateway scenarios involve collecting data from machines/processing and pushing data upstream to cloud for further analytics. The gateway hardware varies from Raspberry Pi to Industrial PCs. The document states the process of allowing deploying polyglot data pipelining software with the clear notion of supporting immutability. In his session at @ThingsExpo, Shashank Jain, a development architect for SAP Labs, discussed the objective, which is to automate the IoT deployment proces...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
In demand-intensive mobile and web applications, an emerging pattern is to host the Systems of Engagement in the cloud (for maximum responsiveness) but keep the Systems of Record with the other important business systems in the company datacenter, often on a tightly secured mainframe. But what about the space in between? In this IBM Redpaper publication, we show that the IBM Bluemix cloud platform offers technologies that make it easy for cloud-based SoEs to securely connect to on-premises IBM...
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
OpsHub, Inc. has announced enhanced support for DevOps and Migration for both Team Foundation Server and Visual Studio On-line in a heterogeneous environment. With added support for build and release entities in OpsHub Integration Manager (OIM) Microsoft customers can now leverage Visual Studio build and release services to manage DevOps processes in a heterogeneous environment. With the enhanced support customers can manage the DevOps process in Team Foundation Server while undertaking activit...
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
SYS-CON Events announced today that Catchpoint, a global leader in monitoring, and testing the performance of online applications, has been named "Silver Sponsor" of DevOps Summit New York, which will take place on June 7-9, 2016 at the Javits Center in New York City. Catchpoint radically transforms the way businesses manage, monitor, and test the performance of online applications. Truly understand and improve user experience with clear visibility into complex, distributed online systems.Founde...
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...