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Friday 10th November 2006
Parlay Entertainment Inc, one of the world’s leading suppliers of online bingo software has announced its results for the three and nine months ending September 30 2006.
The highlights for the third quarter see revenue at $2,647,668 up 68 percent on same period last year and up 20 percent from quarter 2 of this year. Royalty revenue stands at $1,937,754, up 31 percent, with a new corporate record for net income at $501,931 or $0.03 per share, fully diluted, up from $262,583 in third quarter last year.
The nine month highlights includes corporate records in revenue at $6,864,026, up 64 percent from the prior record for 2005; cash at $2.9 million, up 131 percent from December 31, 2005; and net income at $1,206,255 or $0.08 per share, fully diluted, up from $461,823 recorded in 2005.
'We are extremely pleased to have established new corporate records during this quarter,' said Mr Scott F White, President and CEO. 'With revenue for the nine-month period ended September 30, 2006 surpassing our revenue for all of fiscal 2005, we would conclude that our current share price does not adequately reflect our success in 2006 nor our prospects for 2007.'
Source: OnlineCasinoNews
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