Artificial Life, Inc., a leading, full-service provider of mobile 3G+ technology, mobile participation TV, mobile gaming and business applications, has released their financial results which show strong growth in revenue and profits for the second quarter ending June 30, 2008.
Revenues for this quarter were $5,481,470 when compared to $707,066 for the quarter ending June 30, 2007. According to the results, the 675% revenue increase 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 handset distributors, and first major license sales for the new technology platform Mobile Booster.
Income from operations for the quarter ending June 30, 2008 was $2,890,187, compared to loss from operations of ($694,298) for the quarter ending 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.
On a mid-year basis, revenues increased 795% to $9,606,474 for first six months of 2008 when compared to $1,072,754 for the same period of 2007. Finally, net income for the quarter ending June 30, 2008 was $2,690,314 as compared to a loss of ($684,613) for the quarter ending June 30, 2007.
Eberhard Schoeneburg, CEO of Artificial Life, stated, “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.”
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