Time to Date

Hello.
I want to turn time(); into something like "10:15" is this possible?
Here's an example:

//Time
$time = "1263696726";
//Now I want to convert $time to X:XX
//I have no idea what to do next.

I hope you can help, thanks!

$time = time(); // Or whatever number you want to use
$formatted = date('H:i', $time);


Refer to the following page to see other modifiers for date format: http://php.ca/manual/en/function.date.php

Right before I saw this I figured it out, lol.
Thanks anyways!