eGames Announces Preliminary Second
Quarter Fiscal 2010 Financial Results
For the fiscal quarter ended December 31, 2009,
the Company anticipates reporting:
Fueling
revenues and earnings for the quarter were strong sell-through results for the
Company’s retail product line during the holiday selling season, led by the
Company’s Mystery Legends™: Sleepy Hollow
title, in distribution at all major North American retail chains. Sleepy Hollow heads a strong lineup of
eGames-branded hidden object and puzzle games which also sold well at major
North American retailers during the holidays. Also benefiting the fiscal
quarter ended December 31, 2009 was a $150,000 gain related to the asset sale
of the Cinemaware game properties, which will be reflected as a reduction in
the operating expense section of the Company’s Statement of Operations (due to this
sale being related to the asset impairment expense previously reported as an operating
expense in the Company’s fiscal 2009 financial results).
Comments:
“We are excited about the excellent performance
of our latest titles at retail during the fiscal quarter ended December 31,
2009,” said Jerry Klein, President and CEO of eGames. “Gaining retail
distribution and having top-selling retail titles have given us an opportunity
to begin turning around our financial results and build momentum in the
mass-market retail environment, while also funding our product development that
now focuses on the fastest-growing sector of the casual game market, social
networking websites,” Klein said.
The Company anticipates issuing a press release
containing its final financial results for the fiscal quarter ended December
31, 2009 on or about February 15th, 2010.
About eGames, Inc.
eGames, Inc., headquartered in Langhorne, Pennsylvania,
develops and publishes casual games for the PC, Nintendo DS and Wii, iPhone,
and the Internet including The Dracula Files, Burger Island®, Burger Island 2:
The Missing Ingredient, Defender of the Crown: Heroes Live Forever®, Purrfect
Pet Shop®, and more. Additional information regarding eGames, Inc. can be found
at http://www.egames.com.
Forward-Looking
This press release contains certain
forward-looking statements, including without limitation, statements regarding:
the anticipated date that the Company will issue a press release containing its
final financial results for the quarter ended December 31, 2009; and the
development of game titles for social networking websites. eGames cautions
readers that the risks and uncertainties that may affect our future results and
performance include, but are not limited to: continued overall economic
problems in the United States and around the world that negatively affect
consumer spending and retail markets; the potential failure of business
partners with which we do business, including distributors, retailers,
licensees and publishers; delays in the development and release of future titles;
inability to fund continued development of future titles; technical and other
issues that may delay or halt development of future titles; the failure of new
titles to sell well or achieve retail placement; our inability to enter into
and maintain commercially successful publishing, licensing and distribution
relationships; and an increase in competition; as well as the risks and
uncertainties discussed under the heading "Factors Affecting Future
Performance" in our Annual Report for the fiscal year ended June 30, 2009
as posted on the Company’s website and on www.pinksheets.com.
iPhone is a trademark of Apple Inc.
Nintendo DS and Wii are trademarks of Nintendo. Mystery Legends is a trademark
of pixelStorm entertainment studios Inc.
Contact:
eGames,
Inc.
Jerry Klein,
President &
CEO
(215) 750-6606 (Ext.
118)
Tom Murphy,
Vice President &
CFO
(215) 750-6606 (Ext.
113)