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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Daniel Merchant who wrote (35871)	4/22/1999 2:46:00 PM
From: Warner Buffett	Read Replies (1) \| Respond to of 120523

A pure internet stock which earned $0.35/share in Q1! and has a PE of 15: CryptoLogic Announces 34 Percent Revenue Growth And 35 Percent Earnings Growth In First Quarter Results TORONTO, CANADA--(stated in US$) CryptoLogic Inc. announced today its first quarter results. Total revenue for the quarter ended March 31st, 1999 totaled US $8.3 million, an increase of US $2.1 million or 34 percent over the same period last year. Net earnings for the quarter totaled US $5.4 million, an increase of US $1.4 million or 35 percent over the same period last year. As a result, earnings per share in the first quarter of 1999 were US $0.64 compared to US $0.48 in the first quarter of 1998. On a fully diluted basis, earnings per share were US $0.35 for the first quarter of 1999, compared to US $0.26 for the first quarter of 1998. At the end of the first quarter, CryptoLogic's cash and cash equivalents, including restricted cash totaled US $30.7 million. /T/ --------------------------------------------------------------- (Amounts stated in millionsof U.S. dollars, except per share disclosure) 1st Qtr 1999 1st Qtr 1998 --------------------------------------------------------------- Gross revenue $8.3M US $6.2M US --------------------------------------------------------------- Net income $5.4M US $4.0M US --------------------------------------------------------------- Earnings per share $0.64 US $0.48 US --------------------------------------------------------------- Fully diluted earnings per share $0.35 US $0.26 US --------------------------------------------------------------- Cash flow from operations $7.3M US $2.3M US --------------------------------------------------------------- Cash flow from operations per share $0.86 US $0.28 US --------------------------------------------------------------- Fully diluted cash flow from operations per share $0.47 US $0.15 US --------------------------------------------------------------- Average number of shares 8.5M 8.2M --------------------------------------------------------------- Avg. fully diluted number of shares 15.4M 15.2M ---------------------------------------------------------------/T/ On April 15, 1999, the Company announced its plans to make formal application for listing on the Nasdaq National Market. This will enable the Company to have greater investment exposure in the United States marketplace. CryptoLogic's corporate site www.cryptologic.com has been re- designed and updated. Our site provides shareholder and investor information in our new, easy to navigate design. Additions to this site include detailed financial history, as well as product information. CryptoLogic's wholly owned licensing subsidiary, IOLL, has launched its web site www.ioll.com. This site has been designed to provide information for investors interested in licensing the Company's Internet Gaming Software. 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 (15.4 million shares fully diluted).