CryptoLogic Ltd. Has Terrific Fourth Quarter

New slot games featuring Marvel Comics superheroes Spiderman and the Fantastic Four were credited by company officials as leading the sales push.

While land-based casino companies suffer declines in revenue and tumbling stock prices, online casinos are faring much better. CryptoLogic Ltd., a software company specializing in internet gaming, tripled its earnings over the previous fourth quarter.

In 2006, CryptoLogic earned $1.7 million, which came to 12 cents per share. In the fourth quarter of 2007, the business made $4.3 million, or 36 cents per share.

Online casino play rose $4 million to $14 million total, and sales for the company also rose, from $19 million to $20.4 million. Poker play was down, declining from $6.7 million to $4.6 million.

New slot games featuring Marvel Comics superheroes Spiderman and the Fantastic Four were credited by company officials as leading the sales push, along with an array of new casino games released in September.

Industry analysts had been projecting a profit of 21 cents per share, a figure nearly doubled in actual performance. Operating expenses were pared, dropping from $14.2 million to $12.7 million.

On the basis of the good news, stock prices climbed 94 cents to $15.63, a gain of 6.4%.

Even as land-based casinos struggle with the credit crunch and the need for monstrous investment, online casinos seem to have bounced back from the disastrous closing of the U.S. market in 2006 to show strong signs of health and growth.