TransGaming Reports Third Quarter Fiscal 2014 Results

NEWS RELEASE TRANSMITTED BY Marketwired 
FOR: TransGaming Inc. 
TSX VENTURE SYMBOL:  TNG 
APRIL 29, 2014 
TransGaming Reports Third Quarter Fiscal 2014 Results 
TORONTO, ONTARIO--(Marketwired - April 29, 2014) - TransGaming Inc. (TSX
VENTURE:TNG) ("TransGaming" or the "Company"), a global
leader in delivering innovative technology solutions for the rapidly evolving
video games industry, today reported its third quarter fiscal 2014 results. The
Company's unaudited interim consolidated financial statements for the
three and nine months ending February 28, 2014 and Management's Discussion
and Analysis have been filed and are available on SEDAR at www.sedar.com. 
Highlights 
TransGaming reported third quarter fiscal 2014 revenue of $1.2 million and $5.0
million for the nine months ending February 28, 2014. The net loss for the
quarter was $0.46 million with adjusted EBITDA earnings of $0.1 million. During
the quarter, the Company announced the strategic restructuring of its Graphics
and Portability Group, including the hiring of a new Vice President to execute
on its new strategic initiatives and drive long-term revenue growth. The
following highlights should be noted: 
/T/ 
--  Initiated a strategic restructuring of its Graphics and Portability 
Group to achieve greater scale and revenue by adding outbound technology 
licensing (including source code licensing), game publishing and support 
for the enablement of PC games to Android, iOS, and Steam OS 
--  Announced that games industry veteran Fredrik Liljegren was joining the 
Company as Vice President of its Graphics and Portability Group, 
bringing with him decades of technology and gaming leadership experience
--  Announced that it was partnering with Samsung, the world's largest 
consumer electronics company, to bring the GameTree TV platform to 
Samsung Smart TVs globally 
--  Announced that it was partnering with Toshiba Europe GmbH to bring the 
GameTree TV platform to Toshiba Smart TVs globally 
--  Subsequent to quarter end, announced that GameTree TV will provide games 
for Sharp's Aquos SmartCentral 3.0 Smart TV platform 
--  Subsequent to quarter end, announced the release of Star Trek Online, 
the award-winning free-to-play MMORPG for the Mac 
--  Closed an equity offering in February 2014 raising gross proceeds of 
CA$4.6 million 
--  Reported cash and cash equivalents of $5.3 million 
--  Reported adjusted EBITDA earnings of $0.1 million, including an 
unrealized gain on foreign currency exchange of $0.8 million 
/T/ 
Commenting on the results, Vikas Gupta, CEO & President of TransGaming
stated: 
"We've delivered consistent growth over the last many quarters and
have demonstrated cash flow neutrality or profitability. Now, it's time
for us to accelerate our growth, scale the company, and be poised to take
advantage of new technology and business model trends within our industry. We
are very excited about the restructuring of the Graphics & Portability
Group, being led by a new Vice President who is a highly accomplished games
industry veteran, and are confident that our strategic changes will yield
incredible market traction and results in the quarters to come. TransGaming has
also closed many new channel partner agreements for GameTree TV and we are now
cultivating a growing addressable market into active users. Although still a
young and nascent market, we are ahead of everyone else in this marathon and
are aggressively working on monetizing users. 
"We are no longer managing the company to survive in difficult economic
times. We've done this and we've demonstrated our ability to weather
the storm. It's now time to focus on growth. Our changes, our decisions,
our outlook are now about building and scaling TransGaming." 
Conference Call Details 
TransGaming will host an analyst and investor conference call at 10:00 a.m. EST
on Wednesday April 30, 2014 to review the third quarter fiscal 2014 results.
The telephone number for the conference call is +1 (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
www.transgaming.com/investor-relations. 
About TransGaming Inc., 
TransGaming Inc. (TSX VENTURE:TNG) engineers technologies that ignite
experiences, delighting audiences around the world. From its roots as a
trailblazer in cross-platform enablement, TransGaming has expanded to deliver
essential solutions fuelling software 3D graphics rendering, parallel
computing, and the distribution of digital content. TransGaming's
disruptive innovations are now used by everyone from home consumers, to the
largest and most influential tech companies in the world. Visit us at
www.transgaming.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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FOR FURTHER INFORMATION PLEASE CONTACT: 
TransGaming Inc.
Dennis Ensing
Chief Financial Officer
+1 416 9799900 x321
dennis@transgaming.com 
INDUSTRY:  Telecom - Cable and Satellite Services, Telecom - Networking,
Telecom - Telecommunication Services, Telecom - Wireless/Mobile 
SUBJECT:  ERN 
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-0- Apr/29/2014 21:00 GMT
 
 
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