S.W, CRY.TO has 15.6 Millions fully diluted shares and a fairly small Float...
that I'll post as soon as I can find the basic info I had posted already once on this thread, about one month ago. Earnings are $2.75 and the PE about 5... They have US$35 Millions in cash, a share buy-back program and the best software in the Business....When this stock hits the NASDAQ sometime in October, IMO, it will fly....
ca.finance.yahoo.com
Thread on SI: Subject 14243
CryptoLogic Announces Second Quarter Results: 54 percent Increase In Revenues, 48 percent Increase In Income.
TORONTO--(BUSINESS WIRE)--July 22, 1999--CryptoLogic Inc. (TSE:CRY. - news) announced today its second quarter results.
Total revenue for the three months ended June 30th, 1999 totaled US $8.0 million, an increase of $2.8 million or 54 percent over the same period last year. Net income for the quarter totaled $4.9 million, an increase of $1.6 million or 48 percent over the same period last year. As a result, earnings per share in the second quarter of 1999 were $0.57 compared to $0.39 in the second quarter of 1998. On a fully diluted basis, earnings per share were $0.32 for the second quarter of 1999, compared to $0.22 for the second quarter of 1998. At the end of the second quarter, CryptoLogic's cash and cash equivalents, including restricted cash totaled $36.4 million.
Total revenue for the six months ended June 30th, 1999 totaled US $16.2 million, an increase of $4.8 million or 42 percent over the same period last year. Net income for the six months totaled $10.3 million, an increase of $3.1 million or 43 percent over the same period last year. As a result, earnings per share in the first six months of 1999 were $1.21 compared to $0.87 in the first six months of 1998. On a fully diluted basis, earnings per share were $0.67 for the first six months of 1999, compared to $0.48 for the first six months of 1998.
(Amounts stated 2nd Six Months 2nd Six
in millions of Quarter ended Quarter Months
U.S. dollars, 1999 June 30, 1998 ended
except per share 1999 June 30,
disclosure) 1998
---------------------------------------------------------------
Revenue $8.0M 16.2M $5.2M $11.4M
---------------------------------------------------------------
Net income $4.9M $10.3M $3.3M $7.2M
---------------------------------------------------------------
Earnings per share $0.57 $1.21 $0.39 $0.87
---------------------------------------------------------------
Fully diluted
earnings per share $0.32 $0.67 $0.22 $0.48
---------------------------------------------------------------
Cash flow from
operations $5.7M $13M $4.1M $6.5M
---------------------------------------------------------------
Cash flow from
operations per share $0.67 $1.53 $0.49 $0.77
---------------------------------------------------------------
Fully diluted cash
flow from operations
per share $0.37 $0.84 $0.27 $0.42
---------------------------------------------------------------
Average number of
shares 8.5M 8.5M 8.5M 8.3M
---------------------------------------------------------------
Average fully diluted
number of shares 15.6M 15.5M 15.3M 15.2M
---------------------------------------------------------------
Total revenue for the second quarter was 3.4 percent lower than in the first quarter of 1999. In 1998, total revenue for the second quarter was 15.6 percent lower than in the first quarter of that year. Management believes that this trend can be attributed to seasonality and is similar to what is noted elsewhere in the Internet industry. The effect of seasonality is considerably less in 1999 (3.4 percent) than in 1998 (15.6 percent).
On April 15, 1999, the Company announced its intentions to apply for listing on the Nasdaq National Market. Management anticipates the submission of its application to occur in the early fall as scheduled, enabling greater investment exposure in the United States marketplace.
Pursuant to the normal course issuer bid, the Company purchased 25,000 common shares at a price of CDN $17.50 during the latter part of June 1999. Under the issuer bid, which expires on May 12, 2000, the Company has the right to purchase an additional 400,000 common shares.
During the quarter, CryptoLogic's wholly owned subsidiary IOLL completed two new licensing agreements for its gaming software and looks forward to the launch of Version 4.0 of this leading gaming application in the latter part of 1999.
Management also continues to pursue opportunities in worldwide markets including Australia, Asia and Europe to promote its state-of-the-art Internet software applications for both electronic commerce and Internet gaming. CryptoLogic's gaming software is currently accessible in Japanese, English, and Spanish with several additional languages becoming available in the coming year. The additional languages that are becoming available will increase the potential to expand into international markets and appeal to foreign jurisdictions.
CryptoLogic Inc. is a software development company with leading proprietary technology enabling secure, reliable, high-speed private financial transactions over the Internet. CryptoLogic continues to innovate and develop state of the art Internet software applications for both electronic commerce and Internet gaming.
CryptoLogic's common shares trade on the Toronto Stock Exchange under the symbol CRY. There are currently 8.5 million common shares outstanding (15.6 million shares fully diluted).
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Contact:
CryptoLogic Inc., Toronto
Jenny Solursh, 416/545-1455
e-mail: jsolursh@cryptologic.com
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