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OT: Jamdat Shares Plunge on 3Q View
Thursday August 11, 6:24 pm ET
Jamdat Mobile Second-Quarter Profit Surges but Shares Slide After-Hours on Weak Outlook


LOS ANGELES (AP) -- Jamdat Mobile Inc., a maker of cellular phone accessories, on Thursday said second-quarter profit surged, but shares plunged after-hours on the company's feeble third-quarter forecast.
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Jamdat predicted adjusted third-quarter earnings, which exclude items, in a range of 13 cents to 15 cents per share -- sharply below Wall Street's target for earnings of 21 cents per share, according to a Thomson Financial poll.

Shares of Jamdat plummeted $7.47 on the news, or 25.3 percent, to $22.02 in aftermarket activity. The Nasdaq-listed stock, which has traded in a 52-week range of $15.16 to $34.86, closed up 4 cents at $29.49.

The company, which develops ring tones, games and other add-ons for cell phones and wireless products, said net income surged year-over-year to $2.6 million, or 11 cents per share, from $423,000, or 9 cents per share. The recent results include a $2.6 million research and development expense and a $1.7 million income tax benefit. Excluding those items, net income would be $3.4 million, or 14 cents per share.

Adjusted net income, which does not count the amortization of stock compensation or certain other charges and gains, was $5.4 million, or 23 cents per share. Analysts expected earnings excluding items of 19 cents per share.

Sales ballooned to $19.3 million -- in line with the consensus estimate -- from $8.4 million in the year-ago quarter. In April, the company acquired Blue Lava Wireless and a 15-year license to the wireless rights for the popular game Tetris.

Jamdat said it expects third-quarter earnings of 4 cents to 6 cents per share on sales from $20 million to $21 million, slightly below the consensus estimate for sales of $21.9 million.

The company reaffirmed its full-year guidance for revenue of $80 million, per-share earnings of 42 cents and adjusted earnings of 83 cents per share. Analysts project full-year income of 77 cents per share on sales of $81.8 million.

http://biz.yahoo.com/ap/050811/earns_jamdat.html?.v=1