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CryptoLogic Repots Rise in Profits

TORONTO, Ontario – As reported by the Canadian Press: "The CEO of CryptoLogic Inc. had good reason to wish "Happy Guy Fawkes Day" after his gambling software firm reported a 32 per cent rise in quarterly profits Friday.

"The annual British fireworks celebration matched Lewis Rose's mood as he trumpeted earnings growth largely based on online poker and casinos in the United Kingdom and the rest of Europe.

"…The Toronto-based company's third-quarter revenue grew 43 per cent to $15.6 million US, compared with a year earlier. Profit rose to $2.9 million US, from $2.2 million US, as fees from online poker increased to more than 20 per cent of total revenue.

"CryptoLogic also boosted its quarterly dividend by two-thirds Friday, to five cents US per share.

"Earnings for the quarter ended Sept. 30 amounted to 21 cents a share, up from 17 cents.

"…On the Toronto stock market Friday, CryptoLogic shares (TSX:CRY) rose $1.89, or almost 10 per cent, at $21.83…"

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