Online casino software provider has a winning hand

Most sectors of online gaming experienced substantial growth over the last twelve months. Similarly, Chartwell Technology Inc., a turnkey online casino software provider also reported major increases.
Chartwell Technology Inc. recently released the results of the fourth quarterly audit for the end of October 2005.
They showed a major increase for in comparison to the same period for the previous year.
In fact, their total revenue climbed by almost fifty percent while their income from operations jumped by almost eighty percent.
In money terms the revenue increased from $12.2 million in 2004 to close to$18 million.
Other statistics show their net income before taxes jumped to $6.4 million from $4 million dollars the previous year.
Fees from software licensing also rose substantially, from $11.3 million for the year 2004, to over $16 million for 2005.
Profits have been steadily rising for Chartwell Technology Inc. for the past three consecutive years. Nevertheless, 2005 has proved to be a significant year financially and operationally for the company.
Chartwell CFO Don Gleason was openly excited about the financial results and reported that the company has not only achieved a record revenue but also managed to maintain quarterly profitability, increase their EBITDA and operating margins while at the same time enhance their balance sheet and working capital.
Gleason also reported that the company was operationally developing and extending their product development capabilities and had begun deployment of support teams through a staged investment program.
One element of this program was the acquisition of Micropower Corporation. According to Gleason these kinds of investments are essential for driving continued growth into the market for the expansion of their products.

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