LOS ANGELES-Shares of Jamdat Mobile Inc. jumped in after-hours trading Tuesday following the game publisher’s announcement that its third quarter revenue more than doubled from the year-ago period.
Jamdat said successful European launches of Tetris and Downtown Texas Hold ‘Em helped push its quarterly profit to $1.4 million, or 6 cents a share, compared with $8,000, or less than 1 cent a share, last year. Third-quarter revenue more than doubled from last year’s $9.5 million to $20.2 million.
Earnings generally were in line with Wall Street estimates, although Jamdat issued fourth-quarter projections on the low side of analyst forecasts. The company said it expects revenue between $23 million and $25 million and adjusted income of 18 cents to 22 cents a share. Analysts were forecasting earnings of 22 cents per share on $24.9 million in revenue.
Jamdat recently released two highly anticipated titles, Socom: U.S. Navy SEALs Mobile Recon and Doom RPG, as part of its holiday push.
“We are pleased with our third quarter results, as we continued to experience very strong year-over-year growth,” said Mitch Lasky, Jamdat’s chief executive officer. “With our current and upcoming product offerings, we are very optimistic about the business as we move into 2006.”
Investors greeted the report warmly as Jamdat shares spiked 8 percent to $19.10 after closing in the regular Nasdaq session down 76 cents, or 4 percent. The stock slowly continued to gain ground Wednesday, trading at $19.55 by mid-day.
