Glu announces preliminary Q2 earnings, smartphone revenues hit $19.9M

Glu Mobile is very proud of its second quarter earnings, if the company’s decision to release some numbers early and move up the date of its earnings call is any indication.

The company announced yesterday that its second quarter smartphone revenues were $19.9 million, up from the $17.4 million Glu reported for Q1 2012.

Revenues from iOS and Android accounted for for 84.6 percent of the company’s total income of $23.6 million — a slightly increase over Q1 when they accounted for 81 percent of total income. The company’s gross margin for the quarter was 87 percent.

The company’s purchase of the Deer Hunter brand from Atari for $5 million in cash also appears to have been a wise decision — Glu reports the buy saved them about $1.4 million in royalty payments during Q2 alone.

As part of the announcement, Glu also updated its guidance for the rest of the year. The company is now predicting its non-GAAP (generally accepted accounting principles) revenue for the full year will be somewhere between $94.4 million and $96.4 million. Glu is now expecting its smartphone revenues to come in somewhere between $81.9 million and $83.9 million, up from its previous guidance of $76.4 to $81.5 million.

Glu is still predicting a net loss for the third quarter and a return to profitability in the fourth, but the company is now expecting to finish the year with more than $21 million in hand, up from the $18 million it predicted in May.