Canadian online gambling software provider Chartwell Technology has announced audited financial results for the year ended October 31, 2008, turning in a solid tenth anniversary year performance that included:
Chartwell management reported that the company invested in its future by delivering more games and upgrades to its gaming system than at any other time in its history, with:
Chartwell additionally achieved its planned objectives by:
“The Company executed its strategy very well in 2008,” commented Alan Richter, CFO of Chartwell. “We have a very focused strategy of getting more content out to our customers as efficiently as possible. Being efficient has meant managing expenses carefully, investing in our people, investing in improving our service delivery capability in Europe, broadening the services we offer, and taking advantage of tax incentives and planning opportunities as available to us.”
Chartwell continued to maintain a strong balance sheet through both growing cash flow and improved working capital. At October 31, 2008 - the end of its financial year - Chartwell had $22.3 million of cash and short term investments, and positive working capital of $23.7 million with no debt.
Source: InfoPowa News