Casino Software Provider Chartwell Tech Reports Revenue Increase

Chartwell Technology Inc., the turnkey online casino software provider, has released its most recent audited financial results for the fourth quarter and for the year ending October 31, 2005. Year highlights were compared with the same twelve-month period of 2004. There was a total revenue increase of 46 percent, while income brought in from operations increased by 77percent. This included:
•Overall revenues of $17.8 million as compared with $12.2 million for 2004;
•The net before tax income of $6.4 million and the net after tax income of $4.0 million is compared with operations income of $3.6 million and a net income of $4.0M in 2004;
•The fee for software licenses is $16.4 million as compared with $11.3 million for 2004;
•The company has stated that the results for 2005 were the latest over a period of three consecutive years of profitability, as well as being a year of significant growth for Chartwell, both operationally and financially.
Chartwell Texh CFO Don Gleason, is reported saying that financially the company has achieved record revenues, while maintaining quarterly profitability, and has increased their EBITDA and operating margins, while strengthening their balance sheet and still increasing their working capital. Gleason reports that operationally his company has extended their predict development capabilities, and the deployment of their support teams by means of a staged investment program that includes the purchase of Micropower Corporation. He points out that these investments are necessary in order to enable the company’s online casino and poker company to mention their continued growth within a growing market for its products.

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