Tech Stocks in Top Row! Glu Mobile Inc. (NASDAQ:GLUU), ARI Network Services, Inc. (NASDAQ:ARIS)

Shares of Glu Mobile Inc. (NASDAQ:GLUU) ended Friday session in green amid volatile trading. The shares closed up +0.10 points or 5.38% at $1.96 with 1.21 million shares getting traded. Post opening the session at $1.87, the shares hit an intraday low of $1.83 and an intraday high of $1.99 and the price vacillated in this range throughout the day. The company has a market cap of $264.73 million and the numbers of outstanding shares have been calculated to be 133.46 million shares.

Glu Mobile Inc. (GLUU) recently declared financial results for its third quarter ended September 30, 2016.

Revenue: Total revenue was $51.4 million in the third quarter of 2016 contrast to $63.3 million in the third quarter of 2015.

Bookings: Total bookings were $51.3 million in the third quarter of 2016, contrast to $64.4 million in the third quarter of 2015. Bookings do not reflect the deferral of certain game revenue that Glu recognizes over the estimated useful lives of paying users of Glu’s games and excludes changes in deferred revenue and litigation settlement proceeds.

Gross Margin: Gross margin was negative (9)% in the third quarter of 2016 contrast to 53% in the third quarter of 2015. Gross margin included $29.8 million in prepaid royalty impairments during the third quarter of 2016.

Net Income/(Loss) and EPS: Net loss was $(43.7) million for the third quarter of 2016 contrast to net income of $158,000 for the third quarter of 2015. EPS loss was $(0.33) for the third quarter of 2016, based on 133.1 million weighted-average basic and diluted shares outstanding, contrast to EPS of about breakeven for the third quarter of 2015, based on 131.5 million weighted-average diluted shares outstanding.

Shares of ARI Network Services, Inc. (NASDAQ:ARIS) ended Friday session in red amid volatile trading. The shares closed down -0.05 points or -0.90% at $4.93 with 11,397 shares getting traded. Post opening the session at $4.89, the shares hit an intraday low of $4.80 and an intraday high of $5.03 and the price vacillated in this range throughout the day. The company has a market cap of $87.96 million and the numbers of outstanding shares have been calculated to be 17.45 million shares.

ARI Network Services, Inc. (ARIS) declared recently that it has attained Auction123, Inc., a leading provider of software and services to assist dealers in selected vertical markets manage and feed inventory information to online marketplaces to drive more sales and leads. Auction123 serves several vertical markets counting automotive, powersports, recreational vehicles and marine. Terms of the transaction were not revealed.

“The acquisition of Auction123 will accelerate ARI’s growth in our existing vertical markets, introduces ARI into the automotive dealer market and is consistent with our strategy to grow the business both organically and through planned acquisitions,” said ARI President and CEO Roy W. Olivier. “We are excited about the opportunity to cross-sell our other products into Auction123’s base of more than 1,200 dealers.”

Founded in 2001, Auction123 has been a leader in online marketing solutions, inventory administration and website development solutions for dealers in selected vertical markets. Their award-winning web-based software offers tight and seamless integration between the dealer administration system (DMS), the dealer’s website, eBay Motors, Craigslist, Facebook and other third-party classified websites.

 

 

 

 

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