CryptoLogic Cashes in with Online Casino Demand

Wednesday May 10, 2006

As reported by the Canadian Press: "Gambling software company CryptoLogic Inc. said Wednesday its first-quarter profits soared 58 per cent to $7.7 million (U.S.) as its casino games drew more customers ? and now Playboy will use its technology on a new website.

"The report came one day after CryptoLogic declared a 71 per cent increase in the quarterly cash dividend to 12 cents a share, payable June 15 to shareholders of record as of June 8.

"...CryptoLogic stock gained $3.23, more than 11 per cent, to $31.85 in early trading on the Toronto Stock Exchange.

"...Earnings for the quarter ended March 31 rose to 56 cents a diluted share and compared with $48 million (U.S.) or 34 cents per share a year earlier, the Toronto-based company said. The firm reports in U.S. dollars.

"...Revenue increased 33 per cent to a record $27 million (U.S.) ? beating the company's forecast of $25.1 million to $25.5 million..."