TransGaming Reports Third Quarter Fiscal 2014 Results

TransGaming Reports Third Quarter Fiscal 2014 Results 
TORONTO, ONTARIO -- (Marketwired) -- 04/29/14 --   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 
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: 

--  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

Commenting on the results, Vikas Gupta, CEO & President of TransGaming
"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
"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
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 
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 
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. 
TransGaming Inc.
Dennis Ensing
Chief Financial Officer
+1 416 979-9900 x321
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