Glu Mobile narrows 4th-quarter loss from year-ago period hurt by charge, but revenue falls

Glu Mobile 4th-qtr loss narrows, revenue falls

SAN MATEO, Calif. — Glu Mobile Inc. said Wednesday that its fourth-quarter loss narrowed compared with a year-ago quarter hurt by a hefty impairment charge.

The publisher of mobile games also reported its quarterly revenue fell and predicted a decline in first-quarter revenue. Its shares fell in aftermarket activity.

For the quarter ended Dec. 31, Glu reported a loss of $6.9 million, or 23 cents per share, compared with a loss of $37.2 million, or $1.26 per share, in fourth quarter of 2008. The 2008 fourth quarter included a $22.9 million goodwill impairment charge.

Excluding one-time items, Glu’s loss in the latest quarter totaled 13 cents per share, compared with a loss of 14 cents per share in the 2008 quarter.

Revenue fell to $19.1 million from $21.6 million.

For the full year, Glu’s loss totaled $18.2 million, or 61 cents per share, on revenue of $79.3 million. In 2008, the company reported a loss of $106.7 million, or $3.63 per share, on $89.8 million in revenue.

Shares of Glu Mobile lost 17 cents, or 14 percent, to $1.08 in aftermarket activity. They earlier slid 7 cents, or 5.3 percent, to end regular trading at $1.25. They have ranged from 35 cents to $1.84 over the past year.