The update claims that the new growth strategy and restructuring program positions the company for a return to profitability and cash generation in 2009, and further growth in the years to come.
Goals are listed as:
* Reduced total operating costs of approximately $13 million on an annualised basis by the end of Q2 2009.
* Restructuring to result in $3.5 million cash costs and up to $20 million in further non-cash charges.
* Outsourcing of poker network through a strategic partnership with GTECH Corporation (Boss Media) to be completed by the end of Q1 2009. The partnership will improve poker-room liquidity for Cryptologic customers, while eliminating the costs of operating a standalone network.
* Rationalization includes reconfiguration of network, a 75 percent reduction in servers and office rental costs.
* Growth to be driven by Cryptologic's Internet casino business, and by development and licensing of branded online games to leading gaming and entertainment brands.
* Recently contracted customers including 888.com, PartyGaming and GigaMedia expected to generate new revenues of at least $8 million in 2009.
* Continued aggressive expansion of casino business through licensing contracts is intended, with a robust new business pipeline for 2009.
* New deal just signed with Gaming Technology Solutions plc, to provide games. GTS customers include Unibet, bwin and many other top brands.
* Return to profitability and cash generation from Q2 2009.
* Full year cash generation post restructuring of $11-$13 million.
* Net profits in the range of $9-$10 million.
* Diluted earnings per share of 65-71 cents.
"CryptoLogic has taken radical steps to focus on its core strengths as a developer of exciting online gaming content," said Brian Hadfield, CryptoLogic's President & CEO. "We are on track to return to profitability and generate cash from the second quarter of 2009.
"Our streamlined operations, lower operating costs and commitment to creating compelling customer experience, together with a highly profitable build-once-sell-often model, provides a solid springboard for long-term growth and shareholder value."
The company is in the process of finalising its results for the fourth quarter and full year 2008. While trading levels were broadly in line with management expectations in the fourth quarter, revenues were affected by the continued strengthening of the US dollar, the company's reporting currency, against the Euro, Canadian dollar and the British pound. As a result, reported revenues are expected to be approximately 14 percent lower than the previous quarter. Against that, recurring operating expenses will also be lower due to currency fluctuations.
Net cash at the year end was between $42-$43 million.
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" My story is called Bloody Rain... Jennifer is a 20 year old student,Today is the October 31th Halloween.It is a rainy day in this small town,Children have disguised themselves in witches and monsters,They run from door to door to get sweets.Jennifer is alone this weekend,her parents go to relatives over the weekend.Jennifer's girlfriend Maja has called today several times, Today is a Halloween Party,and Maja wants to go with jennifer to the party.But jennifer declined.Today she must babysit a 7 year old boy called Mike.Jennifer Listens to radio, suddenly the song is canceled because of a special message "We interrupt because of a special report". "From our sanatorium Ronald Myers escaped today, he carries a meat hook as a weapon, all inhabitants should close their doors. The mentally ill is classified as very dangerous, In his flight he beheaded three coworkers,Avoid dark side streets,The police have set up road blocks". Jennifer turns off the radio,She did not take the message in the radio.Jennifer is on the way to Mikes Home,Where she babysits today. When jennifer arrives, Mike hugs her heartily."Can we Watch a Horror movie Today Jennifer ?" says the little Boy Mike. " If you Don't tell it to your parents Yes !" says Jennifer. Jennifer and Mike are sitting in the living room watching a movie.Suddenly jennifer's cell phone rings "Hello" says jennifer ""How are you my sweetie" "David I told you,do not call me today" David is Jennifers Boyfriend."Can I come today ?" says David. "I told you that it is not possible,Mike does not sleep yet" says jennifer "Come on Sweetie" says David. "I Call you when he sleepts" says Jennifer. It's now midnight,Mike the little Boy sleepts on the couch,The movie is still running.Jennifer carries Mike to his bed.Suddenly a knock,Jennifer is frightened.She goes back to the living room.Suddenly again a knock on the Door.Jennifer opens the door, but no one is there.Hello is someone there ? says jennifer. She hears steps and then she close the Door.Jennifer is a little frightened.Suddenly the door rings,And jennifer is frightened again.She walks to the door and opens it.But again No one is there.Suddenly someone jumps out of the bushes to jennifer,He wears a clown horror mask "BUUHH" screams the clown.Jennifer screams and falls.The person under the mask pulls the mask off,it is david he laughs "Happy Halloween jennifer" "You Asshole "says jennifer "It was only a Joke Sweetie." says david. Suddenly a scream from Mike's room. jennifer and David run to his room,they see Mike on the ground crying. "What happened Mike ? " says Jennifer. "The Boogeyman was under my Bed" says Mike. Jennifer hugs Mike "It was only a Dream" says jennifer "is everything okay?" says david. "NO" says jennifer. Jennifer see that the Window in Mikes Room is Open,And on the carpet, you can see bloody footprints.Suddenly a black shape emerges behind david.The person has a meat hook in his hand,and his Face is Bloody.It rams the meat hook into david's chest,david spits Blood .Jennifer screams,David falls dead to the ground.Jennifer takes the table lamp and hits the killer on the head.The killer falls to the ground.She takes Mike's hand and runs away."Mike Run to the Neighbours and call the cops Run !" says jennifer.Mike runs out of the house.The killer runs towards the two,In his hand a bloody fleshhook,The killer hurts jennifer with the meat hook in her leg.Jennifer can take a vase and hit the killer on the head,She runs to the kitchen and takes a knife. The killer attacks her,But Jennifer throws the big kitchen knife on the killer,The knife hits the breast of the killer,He falls and he does not move.Jennifer runs from the House ,a Police Car arrives with siren, Two policemen get out " is everything allright ? " ask the one Police man."The Killer is in the House".The Two Cops go to the House,There is a blood pool in the kitchen....But the killer has disappeared..... ----------------- preffered casino : Winaday / username : SETHGECKO25 regards This two are my Horror masks,its me under the mask "READ
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