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Final Results Announced by Online Casino
21
September 2005
Chartwell Technology Inc., an online
casino provider, recently announced the un-audited
financial results for the 3 and 9 months which ended
this year on the 31st of July. The highlights from the
quarter included a slightly more than 25% growth in
profit, earnings before interest, taxes, depreciation
and amortization (EBITDA) of over $1,100K, as well as an
11th successive quarter of revenues.
When compared to the 2004 nine month period, the total
amount of profit increased by just over 51%, EBITDA
improved to 72%, the software licensing fees increased
to almost 53%, there was almost a 38% increase in
operating margins, the net incomes went up by 23%, and
finally the earning per share weakened, only remained at
a constant 16 cents.
The Chief Financial Officer of Chartwell Technology Inc.
, Jon Gleason, has said that he is proud to announce
another strong set of quarter results. Aside from
operating expenses that continue to increase in
association with Micropower Corporation’s achievements
and foreign exchange loss, the online casino company is
able to maintain another quarter of growth in revenue.
For the rest of the year Chartwell Technology will
continue their focus on diversifying their revenue,
investing in important areas of the business and
profitability.
In addition, the online casino company made a normal
course issuer bid, as directed by the Chartwell’s Board
of Directors. The way it works is any purchases made
under the bid may take place after the receipt of
regulatory approvals, and will be terminated from one
year after it was started.
The success of Chartwell Technology Inc. is impressive,
and it will be interesting to see if they can keep up
their consecutive quarter of profits next year.
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