TransGaming Inc.
TSX VENTURE : TNG

TransGaming Inc.

January 26, 2012 16:01 ET

TransGaming Reports Fiscal Year 2012 Second Quarter Results

TORONTO, ONTARIO--(Marketwire - Jan. 26, 2012) - TransGaming Inc. (TSX VENTURE:TNG) ("TransGaming" or the "Company") today reported its second quarter fiscal year 2012 results. The Company's unaudited interim consolidated financial statements for the three and six months ended November 30, 2011 and Management's Discussion and Analysis have been filed and are available on SEDAR at www.sedar.com.

Highlights

  • Revenue for the first six months of fiscal year 2012 was US $2,319,046, up 8.4% over the same period last year.
  • For the three months ended November 30, 2011 revenue was US $1,320,711, an increase of 13.9% from the same period in the previous year and US $322,376 or 32.3% higher sequentially from the previous quarter.
  • In the quarter, TransGaming tripled the size of the GameTree™ TV catalog available to users to over 75 titles in the six months since its launch with France-based broadband service provider, Free, in May 2011.
  • The "GameTree TV GamePass" was launched on December 1, 2011. With this new monthly subscription service, GamePass subscribers enjoy a 12-game monthly bundle at a rate of € 4.99 per month.
  • Subsequent to quarter-end the Company announced that it had successfully completed the strategic acquisition of the assets of the Interactive TV (iTV) & Connected TV division of Oberon Media, Inc.

Commenting on the results, Mr. Vikas Gupta, CEO & President of TransGaming stated, "The second quarter of fiscal year 2012 continued the strong momentum of the first quarter, as can be seen in the double-digit percentage increase in revenues as compared to the previous year. TransGaming exhibited strong growth led by our core businesses from our consumer offerings to our enablement technologies."

Mr. Gupta concluded by saying, "The second quarter was spent laying the foundation for future success and the reinforcement of TransGaming's leadership position with the acquisition of Oberon Media's iTV & Connected TV division. This acquisition yields us incredible growth in market size, feature sets and content. In a period where Smart TV and the connected living room are being hailed as the next major opportunity for innovative and entrepreneurial companies, TransGaming has further established itself as an influential pioneer, defining the course of the connected living room."

Conference Call Details

TransGaming will hold a conference call at 10:00 a.m. ET on January 27, 2011 to review the second quarter fiscal 2012 results. The telephone number for the conference call is 416-340-2218. The call will be recorded and a digital replay will be available on the Company's Investor Relations portion of its website at: http://transgaming.com/investor-relations.

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 TV set-top boxes, Mac computers, and Linux/CE platforms. TransGaming is headquartered in Toronto, Canada. To learn more about TransGaming visit transgaming.com.

TransGaming's GameTree™ TV is the premier on-demand Smart TV gaming platform, offering an unparalleled user experience on the next generation of set-top boxes and connected consumer electronic (CE) devices. The GameTree TV Platform delivers an extensive catalog of video games that can quickly and easily be accessed on-demand. Through a flexible and seamless transaction system, subscribers can choose from a variety of pricing models billed directly through the cable provider. For more information about GameTree TV, visit gametreetv.com.

FORWARD-LOOKING STATEMENTS

Certain statements in this document may constitute "forward-looking" statements, which involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this document, such statements use words like "may", "will", "expect", "continue", "believe", "plan", "intend", "would", "could", "should", "anticipate" and other similar terminology. These statements reflect current assumptions and expectations regarding future events and operating performance and speak only as of the date of this document. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the "Risk Factors" section of the Company's the most recently filed Annual Information Form which is available on SEDAR at www.sedar.com.

Although the forward-looking statements contained in this document are based upon what we believe are reasonable assumptions, we cannot assure investors that our actual results will be consistent with these forward-looking statements. We assume no obligation to update or revise these forward-looking statements to reflect new events or circumstances, except as required by securities 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.

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