Gaming software developer Net Ent has announced its third quarter 2015 financial results as well as year to date results, noting that revenues and profits continue to expand at a high rate.
Key financial indicators for the third quarter ending September 30th, 2015 were:
Revenues increased by 28.8 percent to SEK 279.8 (217.2) million;
Operating profit reached SEK 105.3 (73.4) million, an increase of 43.5 percent;
Operating margin was 37.6 (33.8) percent;
Profit after tax amounted to SEK 97.6 (67.5) million, an increase of 44.5 percent;
Earnings per share amounted to SEK 2.44 (1.69) before and after dilution;
Nine licence agreements with new customers were signed, six new customers' casinos were launched.
Corporate highlights for the quarter were as follows:
Signed customer agreement with Gala Coral in the UK;
Signed customer agreement with Golden Nugget in New Jersey, USA;
Granted transactional waiver to launch games with Borgata and bwin.party by the regulator in New Jersey;
Launched games with Borgata in New Jersey.
Highlights for the nine months ending September 30th, 2015 were:
Revenues up by 32.5 percent to SEK 809.3 (610.6) million;
Operating profit rose to SEK 279.8 (181.3) million, an increase of 54.3 percent;
Operating margin was 34.6 (29.7) percent;
Profit after tax amounted to SEK 258.3 (166.1) million, an increase of 55.5 percent;
Earnings per share amounted to SEK 6.45 (4.16) before and after dilution;
29 licence agreements were signed with new customers and 21 new customers' casinos were launched.
Commenting on his company's performance Net Ent CEO Per Eriksoon said, "At the end of the quarter our net cash position was SEK 316.8 million, and the number of game transactions in our systems grew by 26 percent to 6.6 billion in the quarter. A key part of our growth strategy is to enter new regulated markets and during the quarter our market entry in the US state of New Jersey continued at full speed. We are now also awaiting transactional waivers to go live with Caesars Interactive and Golden Nugget."