Online casino software developer, Cryptologic, has announced its financial results for the second quarter ended on June 30, 2007.
The company would have showed an operating profit of $2.5 million if not for its $4 million reorganization costs as part of the relocation of its headquarters to Ireland, as well as some non-recurring tax impacts.
Cryptologic recorded revenue of $16.2 million and an upsetting after-tax loss of $2.6 million. The company’s President and CEO, Javaid Aziz, has remained positive about Cryptologic’s outlook for the remainder of 2007.
“Cryptologic took major steps this quarter towards a return to growth and profitability, with an increase in operating revenue, and a decrease in operating costs,” Aziz said.
“Since December, Cryptologic has launched 11 new customer sites, and we have four more in the pipeline, including two for Holland Casino, and one for the World Poker Tour. With the confidence of huge global brands, good growth from our European base and encouraging progress in Asia, Cryptologic’s outlook improves every day,” Aziz concluded.
Cryptologic is a leading public e-gaming software developer and supplier. The company is known for creating today’s most innovative online casino and poker gaming software for internationally recognized brands.
