It expects to be both profitable and cash generative in the third quarter
CryptoLogic posts wider-than-expected second quarter loss
2009-08-14
Reading time 30 seg
According to the information released, loss per share also widened to us$ 0.46 from us$ 0.10 in the prior year period.
On average, 2 analysts polled by Thomson Reuters expected loss per share of us$ 0.04 for the quarter. Analysts' estimate typically exclude special items. Revenues for the second quarter 2009 declined to us$ 10.14 million from us$ 16.80 million a year ago, as higher casino and branded games sales offset the previously reported loss of William Hill poker.
CryptoLogic added that it expects to be both profitable and cash generative in the third quarter, as it gains traction from the rollout of branded games by new customers with more than 40 scheduled by the end of the quarter and more than 110 in total by the end of the year.
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