Parlay Entertainment Inc., a gaming software developer, reported total revenue at $4.6 million during the first half of 2008 -- up 16 percent from the same period last year.
Despite the growth, the Ontario-based company reported a net loss of $8,546. This is down from last year's first-half net income of $122,750.
“In Q2 2008, we consummated a divestiture transaction, which had a positive impact on both revenue and cash flow for the quarter,” said Scott F. White, Parlay's chief executive, in a prepared statement. "As a result of that transaction, we have also made a number of adjustments to our recurring cost base in the quarter, which brings it more in line with current recurring revenue.”
“As operators become more competitive, require true differentiation and demand increased player liquidity across multiple languages and currencies, Parlay's latest technology offering will become the industry standard,” he continued. “We look forward to being able to add to our existing licensee-base throughout 2008 and beyond.”