CryptoLogic is in a sound financial situation.

CryptoLogic was obviously pleased to announce solid financial results from their fourth quarter ending December 2005.
CryptoLogic has a market reputation for pioneering gambling software and providing turnkey casinos.
The financial report indicated record earnings and revenue and a healthy operating cash flow.
These results are indicative of their disciplined strategy and increasing growth in the global online gaming industry.
According to CryptoLogic's President and CEO, Lewis Rose, the 2005 report marks ten years of consistent and strong performance.
He considers the last year as a milestone in delivering the state-of-the-art games to the world's most reputable and trusted gaming and entertainment labels.
For Rose, the results speak for themselves. The 2005 report indicated never before achieved highs in revenue. Additionally, CryptoLogic is enjoying a stable position amongst the movers and shakers within the industry.
The report showed that the revenue had increase by over $6 million from the same time the previous year. For the fourth quarter ending on December 31st 2005, the company earned US$25.1 million with a total earnings for the year of US$86.3 million. This total is up from the US $63.7 million earned in 2004.
The report also contained other interesting details, these include:
- CryptoLogic's subsidery company, WagerLogic, enjoyed a jump in revenue thanks to an increase in online poker fees. These rose over ninety percent to almost eight million dollars by the fourth quarter in 2004 and another thirteen percent for the same period in 2005. Poker software fees account for a substantial percentage of the revenue income.
- CryptoLogic developed the first multi-language version of its poker software. This was achieved for the launch of a Greek Language poker site founded by William Hill, one of Britains largest sports bookmakers.
- With the increase geographic diversification, licensing revenues were mainly sourced through international markets. Indeed, over sixty percent of revenue from licensing fees was sourced from abroad.
- Since the first and fourth quarters occur around the winter months, revenue tends to increase around this time as people spend more free time indoors. This is one indication why CryptoLogic's first and fourth quarters were so strong.
Overall, the company boasts a rise of over forty percent in earning from the previous year.

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