Chartwell Revenues Rise in FY 2006
I-gaming technology provider Chartwell (TSX: CWH) on Jan. 29 announced audited financial results for the three and 12 months ending Oct. 31, 2006. The company said revenue was up in Q4 2006, $4.7 million, compared with $4.6 million in Q4 2005. Organic revenue growth in fiscal 2006 was "modest," while revenue growth from new business "more than offset" declines and customer losses. Net loss for Q4 2006 was $221,000, compared with income of $900,000 for Q4 2005; basic and fully diluted loss per share of $0.01, compared with earnings of $0.04 for Q4 2005. The decline in net income for Q4 2006 was the result of "higher expenses," the company said.
Total revenue for the 12 months ending Oct. 31, 2006 increased 4 percent to $18.6 million, compared with fiscal 2005 revenue. "Modest" revenue growth was attributed to challenges faced by customers with exposure to the Italian market, which was "effectively closed to non-Italian gaming operators," the company said. Net income for fiscal 2006 was $900,000 ($0.05 per basic and fully diluted share) compared with $4 million ($0.22 per basic share; $0.20 per fully diluted share) in 2005.
Net income declined in fiscal 2006 due primarily to "costs associated with a full year of poker support, marketing and community hosting costs while still in the early stages of revenue generation from the poker product;" "provision for accounts receivable related to two customers--the provision was unrelated to [the company's] performance as the software provider;" "one time increase in professional fees related to a proposed merger that did not proceed;" and "costs associated with the company's corporate structure and regulatory compliance."
Lottomatica Optimistic about Yearly Sales Growth
Italy-based lotteries operator Lottomatica SpA (LTO: MI) said on Jan. 29 that it expects annual sales to rise at a yearly clip of 7 to 8 percent over the next three years. In a presentation of its business plan issued Monday, spanning 2007 to 2009, the company projects 2007 pre-tax profits of between 1.65 and 1.75 billion euros ($2.13 billion and $2.26 billion) and is planning for an annual dividend payout of between 120 and 130 million euros ($155.1 million and $168.1 million). "Out strategic goals over the next three years are to drive growth and maintain our global leadership position in the public gaming markets, to pursue international and domestic value-accretive growth opportunities," said Lottomatica CEO Bruce Turner.
BSkyB Releases Interim Results
British Sky Broadcasting Group (BSkyB.L) on Jan. 31 released its interim results for the six months ending Dec. 31, 2006. The company reported revenue increased by 10 percent to £2.2 billion, including £22 million ($43.1 million) from Sky Broadband and £77 million ($150.9 million) from Easynet Enterprise. Earnings before interest, taxes, depreciation and amortization (EBITDA) totaled £486 million ($952.4 million) in Sky Broadband and Easynet Enterprise, with a net exceptional gain of £59 million ($115.6 million). The company's interim dividend also increased by 20 percent to 6.6 pence a share, it said. "In 2007, we will continue to drive toward our goal of being the leader in entertainment and communications in the United Kingdom and Ireland," BSkyB CEO James Murdoch said. "We're on track for our targets and our expansion into broadband and telephony positions us well to take advantage of a growing opportunity in a £20 billion industry."
Sportech Year-End Results in Line with Market Expectations
Online operator Sportech (SPO.L) on Feb. 1 said it expects year-end results for the period ending Jan. 5 to be in line with market expectations, with operating profit before interest, tax and exceptional items totaling an estimated £18.4 million ($36.2 million). The company also said its net debt has fallen 17 percent against last year's figure to roughly £90 million ($177 million). "[Sportech] is now a far more focused and cash generative business with its principal operations now profitable and growth oriented," it said in a trading update issued Tuesday.
Betinternet Performing Well
Online gambling group Betinternet (SEA:BET) on Feb. 1 reported that turnover for the six months to Nov. 26, 2006 increased 53 percent, supported by "particularly strong performance" in its European Wagering Services pari-mutuel operation and growing revenues from its sportsbook business. The company said EBITDA rose to £182,000 ($358,268) from a loss of £559,000 ($1.1 million) in 2005.
Crypto to Release Q4 2006 Results
I-gaming provider CryptoLogic (CRYP.L)(TSX:CRYP) (NASDAQ:CRYP) on Feb. 1 announced plans to release its Q4 2006 financial results on the morning of Feb. 15, 2007.