Jamdat Mobile said yesterday that first-quarter earnings for 2005 exceeded expectations. The company reported revenue of $15.1 million for Q1 2005 (the quarter ending March 31, 2005) and net income of $2.7 million.

　　That's $2 million more than the company's net income of $0.7 million in the same quarter last year. In Q4 of 2004, the company's revenue was $11.6 million.

　　Jamdat went on an acquisition spree during the first quarter, which contributed to its growth and popularity among investors. In April, the company purchased Hawaii-based mobile game developer Blue Lava and, by extension, the distribution rights to Tetris for the North American, Latin American, and Indian markets. The company will gain access to the worldwide distribution rights at the end of 2005.

　　Also in April, the company secured an agreement with Major League Baseball for the exclusive rights to MLB-branded wireless simulation games.

　　Jamdat started 2005 off with the acquisition of mobile casino-game maker Downtown Wireless. The move added Downtown Texas Hold 'Em to the company's catalogue of mobile-phone games.

　　Last September, the company executed on its initial public offering, first selling shares at $16 a share, but the price was immediately driven up above $23. After the announcement of the company's first-quarter earnings yesterday, the stock's price was hovering around $19 in after-hours trading. As of this writing, however, the last traded price was $23.

　　With its first-quarter earnings report, Jamdat offered analysts guidance for the upcoming quarters. The company expects expanded second-quarter earnings and speculates that Q2 revenues should hit $19 million. The company expects income to falter slightly, however, as Blue Lava is integrated into its fold.

　　The Los Angeles-based company said it expects revenue for 2005 to reach $80 million, with net income of approximately $0.55 per diluted share.

　　Looking toward the horizon, the company expects growth to continue throughout 2006 and speculates that revenues for that year would near $120 million.