Cryptologic has reported growth in Quarter 1, 2011 from Quarter 4 in 2010. The results include the following:
- Total revenue grew 9% to $6 million (from $5.5 million in Quarter 4, 2010)
- Hosted casino revenue grew to $5.2 million (from $4.9 million in Quarter 4, 2010)
- Branded games revenue increased to $1.5 million (from $1.4 million in Quarter 4, 2010)
- Total expenses were up to $6.5 million (from $6.1 million in Quarter 4, 2010)
- Loss decreased to $0.6 million (from $0.9 million in Quarter 4, 2010)
- Net cash increased to $14.5 million (from $10.6 million in Quarter 4, 2010)
The positive results for Cryptologic are due to the company being involved in a major restructure by senior management in late 2010. This was done in order to stabilize and secure the business.
Branded games revenue increased due to there being 9 new branded games being released in Quarter 1, 2011. The number of games grew from 170 to 179 and future revenues should increase further as a result.
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