Glu Mobile, Inc. (NASDAQ: GLUU) reported Q1 EPS of $0.06, $0.04 better than the analyst estimate of $0.02. Revenue for the quarter came in at $44.6 million versus the consensus estimate of $39.45 million.

Glu Mobile, Inc. sees FY2014 EPS of ($0.05)-($0.06), versus the consensus of ($0.02). Glu Mobile, Inc. sees FY2014 revenue of $30.6-32.7 million, versus the consensus of $31.27 million.

Glu Mobile, Inc. sees FY2014 EPS of $0.02-$0.03, versus the consensus of $0.02. Glu Mobile, Inc. sees FY2014 revenue of $155-161.5 million, versus the consensus of $147.68 million.

Business Outlook as of April 30, 2014:

The following forward-looking statements reflect expectations as of April 30, 2014 and include the expected impact of the PlayFirst acquisition that we expect to close by the second half of May 2014. Results may be materially different and are affected by many factors, such as: consumer demand for mobile entertainment and specifically Glu’s products; consumer demand for smartphones, tablets and next-generation platforms; our ability to improve the monetization of our titles and evolve our studio and continue to successfully launch true games-as-a-service; our ability to successfully integrate the business of PlayFirst with our company and realize the expected synergies of the acquisition; development delays on Glu's products; continued uncertainty in the global economic environment; competition in the industry; storefront featuring; changes in foreign exchange rates; Glu's effective tax rate and other factors detailed in this release and in Glu's SEC filings.

Second Quarter Expectations – Quarter Ending June 30, 2014:

Non-GAAP revenues are expected to be between $30.6 million and $32.7 million.
Non-GAAP gross margin is expected to be approximately 67%.
Non-GAAP operating expenses are expected to be between $25.7 million and $26.0 million.
Adjusted EBITDA, defined as non-GAAP operating loss excluding depreciation of approximately $600,000, is expected to range from a loss of $(3.4) million to $(4.5) million.
Income tax expense is expected to be approximately $(190,000).
Non-GAAP net loss is expected to be between $(4.1) million and $(5.2) million, or between $(0.05) and $(0.06) per weighted-average basic share outstanding, which excludes approximately $1.9 million of anticipated stock-based compensation expense, $459,000 for amortization of intangibles and any Blammo earnout charges. Additionally, non-GAAP net loss excludes the transitional costs and amortization of intangibles, if any, related to PlayFirst that will be recorded on completion of the transaction and purchase accounting.
Weighted-average common shares outstanding are expected to be approximately 86.0 million basic and 91.5 million diluted.

2014 Expectations – Full Year Ending December 31, 2014:

Non-GAAP revenues are expected to be between $155.0 million and $161.5 million.
Non-GAAP gross margin is expected to be approximately 67%.
Adjusted EBITDA is expected to range from $5.0 million to $6.7 million.
Non-GAAP net income is expected to be between $1.4 million and $3.2 million, or between $0.02 and $0.03 per weighted-average diluted share outstanding, which excludes approximately $7.6 million of anticipated stock-based compensation expense, $3.7 million for amortization of intangibles and any Blammo earnout charges. Additionally, non-GAAP net loss excludes the transitional costs and amortization of intangibles, if any, related to PlayFirst that will be recorded on completion of the transaction and purchase accounting.
Weighted-average common shares outstanding are expected to be approximately 86.4 million basic and 92.7 million diluted.
We expect to have cash and short-term investments at December 31, 2014 of $34.5 million with no debt.

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