CryptoLogic's fourth-quarter earnings up

2008-03-18 13:30:13

Leading internet gambling software company CryptoLogic saw its earnings increase during the fourth quarter of 2007, it has been announced.

The firm took $20.4 million in revenue and $5 million net income for the three-month period, both considerably higher than that the respective $18.5 million and $2 million estimates made in November.

Unveiling his company's quarterly report, chief executive Brian Hadfield praised its performance and said that he intends to help the business grow even further in 2008.

"CryptoLogic led the industry in gaming innovation, broadened and deepened its customer relationships, grew both its core and emerging businesses - and made strategic investments in Europe and Asia," the president remarked.

Cited among CryptoLogic's successes last year was the continued strengthening of its relationships with Marvel and the World Poker Tour.

The software designer provides programming for a number of prominent online gaming sites, including InterCasino.