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Cryptologic Releases Positive Third Quarter Results

Online gambling software designer CryptoLogic Limited has released its third quarter financial results, with numbers showing improvement for the company.

Key financial indicators for the third quarter included:

  • Total revenue increased to $7.2 million (Q2,2011: $7.0 million)
  • Total expenses reduced to $5.9 million (Q2,2011: $6.5 million)
  • Income before tax increased to $1.3 million (Q2,2011: $0.5 million)
  • Revenue from hosted casinos rose to $6.5 million (Q2,2011: $5.7 million)
  • Branded game revenues dropped to $1.4 million (Q2,2011: 2.1 million)
  • Poker revenues rose to $300,000 (Q2,2011 $200,000)
  • Operating expenses were lowered to $4.5 million (Q2,2011 $4.5 million)
  • Cash on hand equaled $15.2 million, up from $12.0 million on June, 30th
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