TORONTO, CANADA — (Marketwire) — 11/28/11 — TransGaming Inc. (TSX VENTURE: TNG) (“TransGaming” or the “Company”) today reported its first quarter fiscal year 2012 results. The Company-s unaudited interim consolidated financial statements for the three months ended August 31, 2011 and Management-s Discussion and Analysis have been filed and are available on SEDAR at .
Highlights
Commenting on the results, Mr.Vikas Gupta, CEO & President of TransGaming stated, “Fiscal year 2011 was a record year for TransGaming and we have equally high expectations for fiscal 2012. We entered this fiscal year with great momentum and an extraordinary sales pipeline for our various products. We announced and released some outstanding titles for the Mac in Q1, including FIFA 12, which was available on the Mac for the first time ever, and we have many more amazing titles we will be releasing in the coming quarters. Our GameTree TV platform is gaining market adoption and we expect our overall growth to accelerate as we announce new engagements with service providers.”
Mr. Gupta concluded by saying, “We are reaching an inflection point in our growth with our products obtaining greater market share across all categories. In the Smart TV gaming space, we are positioned to not only lead, but define the Smart TV interactive entertainment market worldwide. This market is growing and evolving well and we are excited about our future prospects.”
For fiscal years beginning on or after January 1, 2011, Canadian publicly listed entities are required to prepare their financial statements in accordance with International Financial Reporting Standards (IFRS). The three months ended August 31, 2011 is TransGaming-s first reporting period under IFRS. TransGaming also transitioned its reporting to US dollar currency beginning in fiscal 2012. Due to the requirement to present comparative financial information, the effective transition date for both IFRS and US dollar reporting is June 1, 2010.
Conference Call Details
TransGaming will hold a conference call at 10:00 a.m. ET on November 29, 2011 to review the first 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: .
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, with offices in Ottawa and Atlanta. To learn more about TransGaming visit .
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 .
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.
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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.
Contacts:
TransGaming Inc.
Dennis Ensing
Chief Financial Officer
+1 416 979-9900 x321
Investor Relations – Canada
Jean-Francois (JF) Dube
+1 877 848 8790
Wolfe Axelrod Weinberger Associates LLC
Investor Relations – United States
Adam P. Lowensteiner
+1 212 370 4500
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