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Q4 Earnings Quite Positive

CryptoLogic is one of the top online casinos software development companies in the world, and the newly released fourth quarter results indicate that the company is doing better than industry predictions. With an increasing number of software development companies entering the market, CryptoLogic has released forward looking statements that indicate that the company has wide expansion plans. As for the Q4 results though, the company ended ahead of forecasts which is anticipated to have given the company even more strength as it tackles 2008. The new CEO at CryptoLogic, Brian Hadfield, noted that the 2007 year saw the online casinos software development company lead “the [internet gambling] industry in gaming innovation, [broaden] and [deepen] its customer relationships, [grow] both its core and emerging businesses, and [make] strategic investments in Europe and Asia. CryptoLogic enters 2008 with a new wave of momentum - and a new world of opportunity."

As for the specifics of the company’s final quarter of 2007, the online casinos software company reported US $20.4 million in earnings – this is above what the company predicted in November – at that point CryptoLogic announced that revenue would be roughly US $18.5 million.

As for why the revenue, net earnings and other figures were higher than anticipated, the online casinos software provider noted that the company’s newly released games performed quite well. CyrptoLogic has exclusive licensing for the Marvel comic book characters, so the success of both a new Fantastic Four game and the ever-popular Spiderman contributed to profits.

As for where the company is headed in 2008, the online casinos software development company plans to actively pursue new licensees, and expand into new and emerging regions – namely the Asian Pacific gambling market.