Cryptologic Inc. Canadian OTC, Symbol: CRYP|
Here is why I think this well established Internet Gambling and Data Security company stock price will increase very soon in January with the end of FY results and more during 1998.
Last quarter CryptoLogic Inc. announced its results for the nine months ended September 30, 1997. Revenues for the quarter ended September 30, 1997 were $5.9 million, bringing its nine month revenues to $11.2 million. The Company had insignificant revenues in the same period last year, as it was in its start-up phase.
Net earnings for the third quarter were $4.0 million, bringing the
Company's net earnings for the nine month period to $7.4 million.
This compares with a loss of $0.5 million for the same period last
year. Basic earnings per share in the third quarter, 1997 were
$0.55, bringing the nine month total to $1.13 per share. On a
fully diluted basis, earnings per share were $0.25 for the quarter
and $0.49 for the nine months ended September 30, 1997. There are
approximately 7.5 million common shares currently outstanding.
CryptoLogic's growth momentum continues, as witnessed by a
comparison of the third quarter versus the second quarter.
Revenues increased by 65.5 percent, while Net earnings increased
by 75.9 percent. On a per share basis, basic earnings rose 57.1
percent, while fully diluted earnings increased 56.2 percent.
During the third quarter, CryptoLogic's wholly owned subsidiary
licensed three operators to use the Company's Casino Gaming
Software, under the trade names: " Casino Internationale", "Sands
of the Caribbean" and "Casino Inn", bringing the total number of
licensed operators to four.
CryptoLogic expects to launch a new version of its electronic
commerce software later in the fourth quarter. As well, its
wholly owned subsidiary has licensed another operator under the
name "Casino Regal", bringing the total number of licensed
operators to five.
CryptoLogic's software products are being used by individuals in
more than 160 countries worldwide. The Company has processed more
than 42 million individual Secure Electronic Transactions, from
more than 80,000 registered users, with nearly USD $325 million in
Electronic Commerce Transactions being processed by CryptoLogic
On December 23, 1997 the application brought by Mr. Lowry respecting the founders warrants was resolved. See Dec 23 Press Release for details.
CryptoLogic is a public Ontario Corporation listed on the Canadian
Dealing Network; Symbol CRYP. The Company is involved in
software development and operations for Internet transaction
processing. Its current focus is on Internet Gaming software and
Electronic Commerce software.
Tell me what you think.