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OT: JMDT Competitor Creamed!
Jamdat Mobile profits up, shares fall
Investors send shares down 20% after weak 3Q forecast
By Scott Banerjee, MarketWatch
Last Update: 5:12 PM ET Aug. 11, 2005
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SAN FRANCISCO (MarketWatch) - Wireless video game publisher Jamdat Mobile Inc. late Thursday reported second quarter revenue that rose 128% from the same period last year, but shares sank over 20% on a weaker-than-expected third quarter forecast.








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Shares of Jamdat (JMDT: news, chart, profile) fell $6.54, or 22%, to $22.95 in late trading, after closing the regular session 4 cents higher at $29.49.

Net income at Los Angeles-based Jamdat (JMDT: news, chart, profile) came in at $2.6 million, or 11 cents a share, compared to profits of $400,000 for last year. The results included $2.6 million in acquisition costs for Blue Lava Wireless, as well as a $1.7 million tax benefit.

Second quarter revenue was at $19.3 million, compared to $8.4 million last year.

The company said profits excluding certain charges were $7.2 million, or 30 cents a share.

Analysts were expecting profits of 19 cents a share on revenue of $19.3 million, according to consensus estimates from Thomson First Call.

For the current third quarter, Jamdat expects revenue in the range of $20 million to $21 million, with profits ranging from 4 cents to 6 cents a share. Analysts were expecting profits of 21 cents a share on revenue of $21.9 million.

During the quarter, Jamdat acquired a 15-year exclusive license to publish the title "Tetris" for wireless in certain global regions.

Jamdat reaffirmed its full year revenue forecasts of $80 million a year, slightly below analysts' forecasts of $81.8 million.

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