Cryptologic revenue up 44%

 

February 19

On Friday, gambling software company Cryptologic posted a 44% increase in 2004 earnings and said it would keep on investing in growth.

Cryptologic designs and develops software for the hugely popular online gambling and online casino industry.

Cryptologic posted earnings for the year were $63.7 million, compared to $44.2 million posted in 2003.

The company's earnings before interest, tax, depreciation et. were up a reported 5% to $17.3 million.

The company announced it's intention to continue to capitalize on it's sturdy financial performance in 2005.

Analysts consider the online gambling and online casino area one of the few triumph stories of the Internet.

With CryptoLogic's generation of earnings and fiscal strength, it is believed that this is indeed the favored time to invest for growth in both its core casino and poker businesses alike.