TORONTO, ONTARIO — (Marketwire) — 09/01/11 — TransGaming Inc. (TSX VENTURE: TNG) (“TransGaming” or the “Company”) today reported its fourth quarter and fiscal 2011 results and sent notice of its Annual General Meeting of Shareholders, to be held September 28, 2011. The Company-s audited consolidated financial statements for the year ended May 31, 2011, Management-s Discussion and Analysis, and Annual Information Form, together with the Notice of Meeting and Information Circular have been filed and are available on SEDAR at .
Commenting on the results, Mr.Vikas Gupta, Chief Executive Officer and President of TransGaming stated, “I am extremely pleased to report these record results. While investing heavily in our newest product, GameTree TV, TransGaming achieved a 30% increase in revenues over the previous fiscal year with top-line revenue of $5.1 million and Q4 revenue of $1.9 million, our best fiscal year and quarter, respectively, to-date.
Mr. Gupta continued, “In addition to attaining record financial results, we commercially launched GameTree TV, the premier on-demand interactive entertainment platform for Smart TV, with our first managed service operator (MSO), Free. A subsidiary of The Iliad Group, Free is one of the largest internet protocol TV service providers in Europe with a rapidly expanding base of over 4.7 million broadband subscribers as of August 2011. I cannot underscore this achievement enough, as we have deployed a world-class, highly sophisticated, on-demand interactive entertainment platform a mere 15-months from its initial inception. As we continue to build a strong relationship with Free, we are also actively negotiating relationships with prospective MSOs and original equipment manufacturers.”
Mr. Gupta concluded, “Fiscal 2011 was a year of much progress, many successes, and the forging of a path that will define our future. Over the coming months and quarters, we expect to make further inroads that will demonstrate how TransGaming is moving forward towards achieving a dominant leadership position in servicing the connected living room. I believe we are at the dawn in the battle for control of the living room and TransGaming has established an impressive early lead.”
Conference Call Details
TransGaming will hold a conference call at 5 p.m. ET on September 1, 2011 to review the fourth quarter and 2011 results. The telephone number for the conference call is (416) 340-2216. 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 deployment and distribution of electronic entertainment across multiple platforms. 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.
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
TransGaming Inc.
Jean-Francois (JF) Dube
Investor Relations – Canada
+1 877 848 8790
Wolfe Axelrod Weinberger Associates LLC
Adam P. Lowensteiner
Investor Relations – United States
+1 212 370 4500
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