Tapinator Inc (TAPM)

[misanthrope]

CORAL SPRINGS, Florida, September 20, 2016 /PRNewswire/ --

The lucrative mobile gaming sector continues to separate itself from traditional, console-based gaming as innovative developments provide consumers with an increasingly wide variety of options. Leaders & Publishers in the video/mobile gaming industry looking to meet the growing demand of consumers worldwide in the markets include: Zynga, Inc. (NASDAQ: ZNGA), Tapinator, Inc. (OTC: TAPM), Nintendo Co. Ltd. (OTC: NTDOY), Glu Mobile Inc. (NASDAQ: GLUU) and GameStop Corporation (NYSE: GME).

Tapinator, Inc. (OTC: TAPM), a leading company within the mobile gaming industry, is providing an update to its previously issued financial guidance for 2016. Tapinator continues to expect revenue results in the range of $4.0 million - $4.5 million for 2016, representing an annualized organic revenue growth rate range of 63%-84%. The Company now expects operating income for the year to be between breakeven and $300,000, up from previously issued breakeven guidance, and is now targeting an Adjusted EBITDA (a non-GAAP measure) percentage range of 23%-27% for 2016, changed from previously issued guidance of 24%. The Company now expects to report net losses in 2016 of $2.0 million - $2.3 million, up from previously issued net loss guidance of $1.6 million, primarily as a result of financing charges related to the recent successful refinancing of the Company's $2.4 million convertible debenture, including approximately $2.1 million in expected non-cash charges