Entraction Holding A.B. the software developer and poker network operator said it had a record year last week as it posted year-over-year turnover gains of 47.6 percent.
The Swedish company said net turnover from January 2008 to December 2008 was 346.1 million Swedish kronor. Earnings before interest, taxes, depreciation and amortization decreased by 4.4 percent when compared to the previous year to 54.7 million Swedish kronor, and operating profit dropped by 18.5 percent to 40.1 million Swedish kronor.
The company’s fourth quarter results showed a turnover increase of 43.3 percent when compared to the corresponding period in 2007 to 102.8 million Swedish kronor.
There was an uptick in earnings before interest, taxes, depreciation and amortization increased of 8.4 percent to 13.7 million Swedish kronor, and a slight decline in operating profit of 6.4 percent to 10 million Swedish kronor.
According to a company statement, the board of directors has proposed a reverse split of shares.