Growth in Revenue,Growth in Earnings
TORONTO, ONTARIO-- CryptoLogic announced today its first quarter
results with growth in both revenues and earnings. For the
quarter, revenues and earnings exceeded Company projections.
Revenue for the quarter ended March 31, 1998 totaled $8.82
million. Revenues recorded in the same period last year were
$1.74 million, an increase of $7.08 million or more than 400 percent.
Net earnings for the first quarter totaled $5.52 million, compared
to $1.16 million in the same period last year, an increase of
$4.36 million, or more than 375 percent.
Earnings per share in the first quarter of 1998 were $0.67,
compared to $0.20 in the same period last year. On a fully
diluted basis, earnings per share were $0.37 for the quarter,
compared to $0.08 for the same period in 1997.
At March 31, 1998, the Company had licensed its electronic
commerce and gaming software to ten companies, who are each
operating the software using unique brand names in order to
capture different markets. During the first quarter of 1998 the
company completed three of the ten licensing agreements.
CryptoLogic is a software development company with leading
proprietary commerce enabling technology, permitting secure,
reliable, high-speed, private financial transactions over the
Internet. The Company's systems are currently being utilized
worldwide for Electronic Commerce and Internet gaming by more than
200,000 individuals in more than 200 countries.
CryptoLogic's unique, proven server technology has processed more than one billion dollars worth of Electronic Commerce Transactions since November 1996. CryptoLogic's common shares trade on the Canadian Dealing Network under the symbol CRYP. There are approximately 8.2 million common shares outstanding. /T/
1st Quarter 1998 1st Quarter 1997
Gross revenue $8.82M $1.74M
Net earnings $5.52M $1.16M
Earnings per share $0.67 $0.20
Fully diluted earnings per share $0.37 $0.08
SEE THREAD AT:
Subject 14243 |
