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LOS ANGELES, BERLIN, HONG KONG, March 16, 2010 (GLOBE NEWSWIRE) — Artificial Life, Inc., (OTCBB:ALIF) ( http://www.artificial-life.com ) now proclaimed firm emergence in revenues and profit for financial year 2009. Revenues grew 22% to $27,454,474 and net income was $7,568,719, representing a net earnings leeway subsequently taxes of 28%.
During the grade of 2009, Artificial Life Inc. reinforced its globular spot as a starring, full-service nomadic package supplier by oblation a across-the-board kind of nomadic products, including fluid games, peregrine TV, roving patronage applications, and fluid productiveness tools and engineering.
For the year 2009, Artificial Life sold terminated 12 billion licenses for its fluid Java games general. 2009 too saw pregnant development in the mart for iPhone games and applications, and though a comparative freshman to the iPhone commercialize, Artificial Life became one of the star iPhone publishers. The Company had complete 10 zillion back downloads globally and 70% of its games achieved a top-10 superior, 46% a top-5 superior, and 33% of the games fifty-fifty reached a #1 superior on Apple’s download charts in many countries approximately the earth.
In 2009, the Company had 73 embodied clients, 22 of which were new customers, generating about 45% of the Company’s amount receipts.
Approximately 51% of Artificial Life’s revenues were derived from peregrine games, patch around 22% were derived from sales of non-game-related roving products such as Mobil Diab™, a fluid healthcare coating for line; 21% from sales of MobileBooster®, a productiveness pecker that has now turn an incorporated office of the fresh released m-commerce chopine, OPUS-M™; and 6% from sales of Mobile Property, a wandering covering for the genuine demesne diligence.
Results of Operations —Year Ended December 31, 2009 compared to Year Ended December 31, 2008
Revenues. Revenues for the year terminated December 31, 2009 were $27,454,474 as compared to $22,454,414 for the year terminated December 31, 2008. The addition of $5,000,060, or 22%, was mainly due to increased licensing receipts generated from the sales of our 3G roving Java and iPhone/iPod trace products and our m-commerce program as fountainhead as licence income from the sales of our Mobil Diab™ and Mobile Property applications.
Cost of Revenues. Cost of revenues chiefly consisted of amortisation of nonphysical assets (permit rights). Cost of revenues for the year complete December 31, 2009 was $5,309,072 as compared to $3,204,590 for the year terminated December 31, 2008. The addition of $2,104,482, or 66%, was mainly due to the increased amortisation of permit rights.
Gross Margin. Gross perimeter for the year terminated December 31, 2009 was $22,145,402 as compared to $19,249,824 for the year terminated December 31, 2008. The increment of $2,895,578, or 15%, was principally due to increased intersection permission income from peregrine games, quondam downloads, and monthly subscription revenues for 3G games derived from roving operators, mass resellers, and handset distributors and a bit of permit deals for the sale of our Mobil Diab™ and Mobile Property applications stolon by amortisation of permission rights acquired.
General and Administrative Expenses. General and administrative expenses consisted of pay and paysheet tax expenses of administrative force, tear, master fees and costs associated with employee benefits, supplies, communications, and jaunt. Total cosmopolitan and administrative expenses for the year over December 31, 2009 were $6,426,674 as compared to $3,268,260 for the year concluded December 31, 2008. The increment of $3,158,414, or 97%, was mainly due to the stock-based recompense disbursement of roughly $0.6 billion, disparagement of figurer package of some $1.4 jillion, and bad debt disbursal of about $2 meg partly outgrowth by decreased sound and master fees.
Research and Development Expenses. Research and developing expenses consisted of remuneration, grooming, consulting, subcontracting, and former expenses incurred to grow and execute the pattern specifications and yield of the products and services from which we come our revenues. Total inquiry and growing expenses for the year complete December 31, 2009 were $4,930,495 as compared to $3,250,289 in the year over December 31, 2008. The step-up of $1,680,206, or 52%, was chiefly due to the stock-based recompense disbursement of roughly $0.5 1000000 and an increment of roughly $0.8 zillion in faculty incentive and about $0.5 meg in Internet expenses partly runner by rock-bottom consulting fees.
Sales and Marketing Expenses. Sales and merchandising expenses consisted of wage and paysheet tax expenses of selling force and costs relating to selling materials, promotional videos, ad, tradeshow-related disbursement and world coition activities. Total selling expenses for the year concluded December 31, 2009 were $4,663,183 as compared to $2,272,516 for the year over December 31, 2008. The gain of $2,390,667, or 105%, was chiefly due to the stock-based recompense disbursal of around $1.2 billion and an gain of roughly $0.3 trillion in faculty incentive and salaries and some of $0.9 billion in consulting expenses.
Other Income/Expenses. Other income for the year over December 31, 2009 totaled $383,669 as compared to $9,656 for the year terminated December 31, 2008. The otc income of $383,669 was chiefly due to net recent defrayal mission income of around $189,000 and strange currentness dealings gains of $332,251 in this year compared to gains of $161,574 in 2008.
Net Income. Net income for the year complete December 31, 2009 was $7,568,719 as compared to $10,575,285 for the year complete December 31, 2008. The lessening of $3,006,566 was chiefly due to stock-based recompense disbursal of $2,385,500, bad debt disbursement of $2,636,979, and income tax profit of $1,060,000 in this year compared to income tax welfare of $106,870 in 2008. The canonic and dilute net income per ploughshare for the year terminated December 31, 2009 was $0.15 compared to the canonical and dilute net income per plowshare for the year over December 31, 2008 of $0.23 and $0.22, severally.
Income from Operations and Net Income Excluding Stock-Based Compensation Expense and Debt Discounts on DetachedWarrants Issued with Convertible Promissory Note. For the years over December 31, 2009 and 2008, our income from operations was $6,125,050 and $10,458,759 severally, and our net income was $7,568,719 and $10,575,285, severally, which includes the effects of stock-based recompense disbursal for broth options, and the effects of pastime disbursal arising from the accumulation of rebate on translatable notes. Excluding the income assertion effects of stock-based recompense disbursement and pastime disbursal arising from the accumulation of disregard on translatable notes, our non-GAAP income from operations would sustain been $8,510,550 in 2009 and $10,458,759 in 2008 and our non-GAAP net income would get been $9,954,219 in 2009 and $10,626,158 in 2008.
Eberhard Schoneburg, CEO of Artificial Life, Inc., aforesaid:
“2009 was again a selfsame overconfident year for Artificial Life contempt the world-wide fiscal crisis that has hit many of our clients and moved about of our key competitors negatively. We managed to rest profitable with a unanimous 28% net profits perimeter and grew 22% in price of revenues evening though we deferred an extra $4.8 1000000 in revenues and several potency winnings to 2010. We improved our accounts receivables position by assembling hearty number of cash in Q4 2009 and Q1 2010, and by utilizing workings great strategies to set-back receivables and payables with sealed customers and licensors and to adopt licenses piece minimizing cash outpouring and cash usance. We let benefited from a liquid view and decreased our acknowledgment peril and pic.
We likewise invested hard in new products and technologies in 2009 to promote tone our technical reward and prima billet in the nomadic capacity quad for the years to ejaculate. We more than double our investments in new technologies and products with o’er $22 1000000 in 2009, as compared to $10 meg invested in 2008. Most of these investments were consecrate to our new OPUS-M™ program, our tele-medicine chopine and wandering diabetes covering Mobil Diab®, and our new and real hefty augmented realness engineering. We anticipate to see solid ontogenesis and new clientele in all these areas in the upcoming months and years.”
(iPod is a hallmark of Apple Inc., registered in the US and otc countries. iPhone is a earmark of Apple Inc. App Store is a help cross of Apple Inc.)
About Artificial Life, Inc.
Artificial Life, Inc. has been a innovator in contrived tidings and roving engineering since its origin in Boston in 1994. We are a populace US tummy (OTCBB:ALIF) with hq in Los Angeles. Our product core is in Hong Kong and we get extra offices in Berlin, Germany (EMEA hq) and Tokyo, Japan. As a stellar supplier of wideband peregrine substance and engineering solutions in the humanity, we modernise and betray a all-inclusive reach of roving applications for 3G, 3.5G and 4G network-enabled fluid (impertinent) phones. Currently our primary byplay areas are: highschool calibre 3D synergistic multi- and single- musician wandering games, roving involvement video (MoPA-TV™), nomadic line applications (Mobil Diab® and Mobile Property) and our wandering mercantilism engineering program (OPUS-M™). We are load-bearing all major roving ring operational systems and platforms such as J2ME, iPhone and iPod touching OS, Android, Brew and DoJa. Recognized internationally for spectacular contented calibre and engineering we suffer standard many external awards and birth been stratified one of the quickest development companies in Asia Pacific by Deloitte. For more data most Artificial Life, Inc., delight sojourn our websites www.artificial-life.com or www.botme.com
The Artificial Life logotype is usable at http://www.globenewswire.com/newsroom/prs/?pkgid=1669
MySpace: http://www.myspace.com/artificial_life_inc
Forward-Looking Statements:
This jam waiver contains “modern statements” inside the pregnant of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such modern statements admit, without limit, statements regarding our succeeding results of operations, fiscal precondition and clientele prospects. In approximately cases, you can discover advanced statements by language such as “may,” “bequeath,” “should,” “anticipate,” “signify,” “programme,” “previse,” “consider,” “idea,” “betoken,” “potency,” “retain” or the veto of these price or over-the-counter like nomenclature. Although such statements are based on our own entropy and info from early sources we conceive to be dependable, you should not office excessive trust on them. These statements demand risks and uncertainties, and genuine marketplace trends or our real results of operations, fiscal term or job prospects may disagree materially from those explicit or implied in these innovative statements for a diversity of reasons. Potential risks and uncertainties admit, but are not express to, our power to find extra support to manoeuvre and maturate our line; the unproved possible of our wandering gambling byplay framework; ever-changing consumer preferences and uncertainness of commercialize adoption of our products; seasonably borrowing and handiness of 3G fluid engineering; commercialise toleration for use of fluid hand-held devices to gambol the interactional games; irregular peregrine gamey growth schedules; our trust on a comparatively minor figure of brands; our power to certify brands from others; our habituation upon resellers and telecom carriers and operators to disperse our products; our power to successfully modernise, inclose, and deal new or enhanced products in a seasonable fashion; and the timing of new ware announcements or introductions by us or by our competitors. For extra discourse of these risks and uncertainties and over-the-counter factors, delight see the documents we charge from meter to meter with the Securities and Exchange Commission, including our Annual Report on Form 10-KSB filed on March 16, 2010. We wear no duty to update any modern statements, which implement lone as of the engagement of this imperativeness firing.
CONTACT: Artificial Life, Inc. IR Contact: Celine Hadaya (+852) 3102 2800 ir@artificial-life.com PR Contact: Annie Lau (+852) 3102 2800 pr@artificial-life.com
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