A while ago, thousands of readers, players and websites visitors have honored CryptoLogic with the Gambling Online Magazine's Top Casino Software Award for its world-class software. This award has given the Toronto-based company the official worldwide recognition for its revolutionary gaming software, gaming concepts and spectacular graphics, special delivered through its subsidiary WagerLogic brand.
Recently, CryptoLogic has posted its fourth-quarter financial numbers, leaving no doubt that they are the biggest fish on the online gaming software market. Apparently, the company has earned more 4.3 million bucks. And that's just way ahead of the company's guidance and market expectations. It means about 36 cents per share. A great figure compared with 1.7 million bucks or 12 cents per share in the 2006 fourth-quarter. And, since the official announcements, shares of CryptoLogc stock have raised spectacularly over one dollar per share.
Pokernews informs that during the company's conference call, the new President and CEO Brian Hadfield said that: "These results are particularly impressive when you consider the significant industry wide impact of the US prohibition of internet gaming in late 2006. With four consecutive quarters of growth the company has done more than turn the corner, we've moved swiftly into the fast lane."
The company's representatives have also added that on a sequential basis, CryptoLogic has nicely grown its quarterly revenue and earnings before income tax and minority interest by 16%, respectively 82%, over the third quarter of 2007. However, the release of its newest line-up of casino games in October, as well as the launch of the much-anticipated Spider-Man and Fantastic Four slot games in December could also add some big points to the CryptoLogic incredible growth.
Even after making the four strategic investments in Europe and Asia last year, CryptoLogic continues to have a strong profit at the end of 2007, gaining a plus of $77.5 million in cash and cash equivalents. Therefore, the company features enough financial resources and flexibility to go on with future valuable expansions in key markets, not to mention the opportunity to perform earnings-boosting corporate transactions.
With more than 280 games in its online casino suite, CriptoLogic keeps its position as the most comprehensive casino gaming collection on the Internet. Good game, fellas!
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