CryptoLogic Q2 earnings rise 73 pct despite World Cup impact

Friday August 04, 2006

CryptoLogic Inc, the internet gaming software firm, reported earnings up 73 pct to 8.2 mln usd in the second quarter to June 30, noting that the quarter is traditionally weak for online gaming and that its licencees had to compete for gamers' attention against the FIFA World Cup.

The Canadian firm is forecasting third-quarter earnings of 6.6 mln-7.0 mln usd, on sales of 26.5 mln-27.0 mln usd, in what is traditionally the weakest quarter for internet gaming.

'While the global online gaming market continues to promise vast growth potential, competition is intensifying for players and market position,' the company added. newsdesk@afxnews.com abr