Click here to close now.




















Welcome!

Apache Authors: Dana Gardner, Liz McMillan, Mohamed El-Refaey, Ajay Budhraja, Don MacVittie

News Feed Item

TransGaming Corporate Update

TORONTO, ONTARIO -- (Marketwire) -- 11/26/12 -- TransGaming Inc. (TSX VENTURE:TNG), would like to address the concerns evident in the marketplace regarding the current state of the business. The company's management, board, and employees are all committed and focused on ensuring the ongoing growth of TransGaming. We recognize and hear the questions and concerns raised by our shareholders regarding our cash flow and we have taken steps to restructure the company towards achieving an even more streamlined organization, with a reduced cost base. A number of alternatives remain under consideration, but for now we believe these steps will allow us to reach our goal of break-even by Q3 or Q4 of this fiscal year.

The business itself has demonstrated ongoing strength with a compounded annual growth rate in revenue in excess of 30% in the past 5 years. Even our detractors have cited significant revenue growth projections for this current fiscal year (2013), which we are on target to achieve.

As part of the effort to streamline the company, we have recently completed a major internal restructuring that has now organized the business into two P&L verticals: i) The Graphics & Portability Group (GPG) which handles all of our licensing of core IP related to Cider and SwiftShader; ii) The Digital Media Group (DMG) which handles all of our in-home content and digital distribution. We have integrated our acquired iTV business unit and our GameTree TV business unit together into a single unified division to leverage common resources and talent pool. Both groups operate as their own P&Ls and are being measured against internal budgets and forecasts. Additionally, over the last 2-3 quarters, we have implemented a 30% reduction in headcount to reduce expenses along with other cost constraining measures.

We have strong growth prospects ahead of us, which are outlined below.

For our Graphics and Portability Group:


--  This business segment has not received attention from shareholders but
    continues to grow and generates high margin revenues. 
--  We are working on a number of new Mac titles, on an ongoing basis, and
    these titles are generating both upfront revenues as well as back-end
    revenue shares. 
--  Our MMO games are performing well and gaining traction. The recently
    announced Guild Wars 2 online game is exceeding user targets and will
    drive revenues in the coming quarters. 
--  We have a long-term business relationship with companies like EA and
    Disney that bring a continual flow of new titles. 
--  We have major licensing negotiations underway for our core IP with both
    Cider and SwiftShader that we expect to close within Q3. 
--  Overall, we expect our GPG group to generate strong revenues in FY2013
    and to be profitable as a business unit.

For our Digital Media Group:


--  We recognize that GameTree TV deployments have taken considerably longer
    then originally anticipated. The slower pace arises from the current
    economic slowdown being experienced globally that has caused major
    operators to become more conservative with their CapEx spending. That
    said, TransGaming continues to negotiate new agreements and has seen the
    level of activity increase. 
--  Our SelecTV deployment is moving forward positively, albeit behind
    schedule. The initial deployment plan was with a series of hotels in
    Asia. However, SelecTV now has major hotels within the Toronto and the
    broader Canadian market and both parties deemed it to be more effective
    and efficient to begin deployments in TransGaming's home territory
    instead of Asia. More information about the specific hotels will be
    released early in the new year. 
--  We are in active negotiations on the commercial agreement with a major
    European service provider. We expect to execute an agreement early in
    2013 and commence integration with a new operator towards launch with H1
    calendar 2013.  
--  We are actively working with the East Asian operator deployment
    (announced June, 2012) and expect them to be ready to launch within the
    second quarter of calendar 2013. 
--  Our Asian partner relationship is now entering the negotiation stage of
    full commercial terms. We are actively reviewing business terms and
    legals and expect to execute a definitive agreement early in the new
    calendar year. 
--  We are imminently releasing a major update to Free which includes a
    complete overhaul on the GameTree TV client and transitions the service
    to a subscription only model at EUR4,99. This will improve the overall
    ARPU for the GameTree TV service and this updated client will be
    deployed on all upcoming new service providers. 
--  We released a major update with DISH Network in October that has been
    received very well and will provide increased revenues with higher ARPU.
--  Overall, and to reiterate, the GameTree TV business has taken longer to
    materialize then projected. However, TransGaming today has 5 service
    providers that we are actively working with or striving to launch by Q2
    of calendar 2013. We are also front-loading our payment schedule with
    new launches so that the service providers cover development and
    integration fees. Between existing customers and new agreements being
    signed, TransGaming has the largest Connected TV distribution footprint
    in the world.

Finally, to strengthen the balance sheet, TransGaming is working with our investment bankers and financial institutions to evaluate a range of options that will provide the markets with the comfort that the company's current liquidity risk will be reduced.

We delivered a record FY13 Q1 and we expect continued strength in Q2, and the following quarters, towards a fiscal year that will be marked by the greatest year-over-year growth to-date. Therefore, we remain bullish about the company's future prospects.

About TransGaming Inc.

TransGaming Inc. (TSX VENTURE:TNG) is the global leader in the multiplatform deployment of interactive entertainment. TransGaming works with the industry's leading developers and publishers to enable and distribute games for Smart TVs, next-generation set-top boxes, Mac computers, and Linux/CE platforms. TransGaming is headquartered in Toronto, Canada.

Forward-Looking Statements

This news release contains forward-looking statements. Actual events or results may differ materially from those described in the forward-looking statements due to a number of risks and uncertainties, including changes in financial and product market conditions. Forward-looking statements are based on management's estimates, beliefs, and opinions. The Company assumes no obligation to update forward-looking statements, other than as may be required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing these ideas and some early experiments performed in the Kurento open source software community in areas ...
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
The 3rd International WebRTC Summit, to be held Nov. 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 15th International Cloud Expo, 6th International Big Data Expo, 3rd International DevOps Summit and 2nd Internet of @ThingsExpo. WebRTC (Web-based Real-Time Communication) is an open source project supported by Google, Mozilla and Opera that aims to enable bro...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so they don't have to be replaced and are instantly converted to become smart, connected devices.
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on demos and comprehensive walkthroughs.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal an...
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
Contrary to mainstream media attention, the multiple possibilities of how consumer IoT will transform our everyday lives aren’t the only angle of this headline-gaining trend. There’s a huge opportunity for “industrial IoT” and “Smart Cities” to impact the world in the same capacity – especially during critical situations. For example, a community water dam that needs to release water can leverage embedded critical communications logic to alert the appropriate individuals, on the right device, as soon as they are needed to take action.
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.