Cryptologic (CRY/TSE): First Profitable Internet Casino Message Board

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Non-Tech : Cryptologic (CRY/TSE): First Profitable Internet Casino

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To: Warner Buffett who wrote ()	9/12/1997 10:46:00 AM
From: Warner Buffett	of 2782

FOOD FOR THOUGHT: CryptoLogic earned $0.55 per share in the first 6 months of '97. In Q3 the company increased its marketing significantly and InterCasino's popularity has skyrocketed along with its number of registered users and revenues. The earnings in the first 6 months of '97 were based on ONE licensee only! We now have 2 licensees and by the beginning of Q4 we will have a total of five licensees. That being said, CryptoLogic could easily earn $2 per share in '97 and a very modest PE (for a company with this kind of growth) of 20 would put its valuation at $40 per share. A more reasonable PE of 30 would put its valuation at $60 per share. Just something to think about. Warner

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