BUSINESS

Cryptologic announces losses for 2009

TAGs: 2009 results, Cryptologic

Bad year at the office

Bad year at the office

If I were the CEO of Cryptologic, Brian Hadfield, I would probably try and explain away poor full year results for 2009 as a by-product of an “innovative new strategy to return to profitability and long term growth against the backdrop of a severe global economic downturn” as well. Fortunately, though, I’m not and the fact of the matter is that the software developer’s revenues are down $21.7 million from the previous year to 39.8 million, net losses are up £2.8m and the share dividend for 2009 amounted to $1.4 million ($4m down on 2008). That, my friends, is a bad year at the office. Read more.

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