Glu Mobile started cutting about 12% of this year's starting headcount of 564 employees as part of an effort to "shift" its staffing investment from "raw studio team volume" into "centralized" games-as-a-service (GAAS) functions. As part of the restructuring, the company is now "focusing on its four core" game studios, in Beijing, Moscow, Seattle and Toronto. The four core studios are "home to its most talented teams, strongest technology and higher quality products".

Glu Mobile, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company’s revenues were $19,131,000 against $21,544,000 a year ago. Loss from operations was $5,494,000 against $6,035,000 a year ago. Loss before income tax was $5,362,000 against $6,401,000 a year ago. Net loss was $5,497,000 against $6,841,000 a year ago. Basic and diluted net loss per share was $0.08 against $0.11 a year ago. Total non-GAAP revenues were $19,023,000 against $21,594,000 a year ago. Non-GAAP operating loss was $2,167,000 against $23,000 a year ago. Non-GAAP net loss was $2,299,000 or $0.03 per basic and diluted share against $456,000 or $0.01 per basic and diluted share a year ago. Total non-GAAP adjusted LBITDA was $1,436,000 against earnings of $539,000 a year ago. Cash flows used in operations were $3.7 million compared to $4.1 million for the first quarter of 2012. CapEx was $358,000. For the second quarter ending June 30, 2013, non-GAAP revenue is expected to be between $16.5 million and $17.5 million and non-GAAP smartphone revenue is expected to be between $15.2 million and $16.2 million. Non-GAAP gross margin is expected to be approximately 90.5%. Adjusted LBITDA is expected to range from $3.5 million to $4.4 million. Income tax expense is expected to be $0.2 million, which excludes a one-time, non-cash income tax benefit of $3.1 million resulting from the release of certain tax liabilities upon the expiration of the statute of limitations. Non-GAAP net loss is expected to be between $4.2 million and $5.1 million, or a net loss of $0.06 to $0.07 per weighted-average basic shares outstanding. For the full year ending December 31, 2013, Non-GAAP revenue is expected to be between $84.0 million and $88.5 million and non-GAAP smartphone revenue is expected to be between $80.0 million and $84.0 million. Non-GAAP gross margin is expected to be approximately 88.0%. Adjusted LBITDA is expected to range from $4.7 million to $6.2 million. Non-GAAP net loss is expected to be between $8.4 million and $9.9 million, or a net loss of $0.12 to $0.14 per weighted-average basic shares outstanding.

Glu Mobile, Inc., Q1 2013 Earnings Call, May 01, 2013