Artificial Life Reports Strong Revenue Growth and Profits for Q2, 2008
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ALIF 1.85 10.78%
As of 9:51 AM ET 7/28/08
Artificial Life, Inc. (OTCBB:ALIF) (www.artificial-life.com), a leading, full-service provider of mobile 3G+ technology, mobile participation TV, mobile gaming and business applications, today reported results for its second quarter, which ended June 30, 2008.
REVENUES: Revenues for the quarter ended June 30, 2008 were $5,481,470 as compared to $707,066 for the quarter ended June 30, 2007. The increase of revenues of $4,774,404 or 675% was mainly due to increased product license income from pre-installation deals for mobile handsets, one time downloads and monthly subscription revenues for 3G games derived from mobile operators, resellers and hand set distributors and first major license sales for the new technology platform Mobile Booster.
Revenues for the first six months of 2008 were $9,606,474 as compared to $1,072,754 for the same period of 2007, an increase of 795%.
INCOME: Income from operations for the quarter ended June 30, 2008 was $2,890,187 as compared to loss from operations of ($694,298) for the quarter ended June 30, 2007. The income from operations is mainly due to increased revenues of $5,481,470 from the sale of 3G games and technology licenses offset by operating costs of $2,591,283.
Net income for the quarter ended June 30, 2008 was $2,690,314 as compared to loss of ($684,613) for the quarter ended June 30, 2007.
The basic and diluted net income (loss) per share for the second quarter of 2008 was $0.06 and $0.05, respectively, as compared to a loss of ($0.02) for the quarter ended June 30, 2007.
"In the second quarter of 2008, we again achieved profitability and record revenue levels. The strategy of becoming a full service mobile application provider has turned out well and generated very positive results. Among other significant events in the second quarter of 2008, we successfully launched an interactive mobile TV show format in Japan based on our MoPA-TV 3.0 platform and sold the first technology license for our new product Mobile Booster. We expect further strong growth for the remainder of the year," said Eberhard Schoeneburg, CEO of Artificial Life, Inc.
ARTIFICIAL LIFE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME (LOSS)
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