(Click Here for the Latest Online Poker News Stories)
Copyright 2004 AFX News Limited
AFX.COM
August 6, 2004 Friday
HEADLINE: CryptoLogic Q2 earnings up, sees Q3
EPS 14-15 cents
BODY:
LONDON (AFX) CryptoLogic Inc posted a rise in
second quarter earnings helped by strong revenue growth from existing
licencees and increased returns from online poker.
Earnings for the second quarter came in
at 3.20 mln usd, or 25 cents per share, up from 2.50 mln a year
earlier, or 20 cents. Sales were 14.9 mln usd comapred to 10.8
mln last year.
The group, which develops software to
the internet gaming market, said it sees sales in the third quarter
of 14.0-14.3 mln usd, with earnings of 1.9-2.1 mln usd or 0.14-0.15
usd.
The company said it saw "increasing
growth in online poker
fees, which now account for 15 pct of total year-to-date revenue,
up from 12 pct in the previous quarter," adding it has a
growing number of poker licensees.
Six month earnings were 55 cents per share,
up from 35 cents on sales of
30.1 mln usd against 19.7 mln.
"The third quarter is seasonally
the slowest period of the year as internet usage softens during
the summer," the company said.
"Although this period is expected
to benefit from continued momentum in poker,
expenditures resulting from investments in strategic initiatives
will increase and are expected to affect margins in subsequent
quarters this year.
It added: "While growth prospects
for online gaming are significant, Management remains cautious
due to ongoing US regulatory issues, competition and higher expenditures,
particularly in the second half of the year."
bam
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
(Click Here for the Latest Online Poker News Stories)
|
