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.