* Q4 loss $1.97/shr vs loss $2.05/shr year-ago
* Q4 rev down 13 pct to $9.9 mln
* Says implementing measures to manage overheads
* Sees improved revenue in 2010 from hosted casino
March 2 Internet casino and branded gaming
software company CryptoLogic Ltd CRY.TO on Tuesday reported a
narrower quarterly loss, helped by lower expenses.
For the fourth quarter, the company reported a loss of
$24.8 million, or $1.97 a share, compared with a loss of $26.0
million, or $2.05 a share, a year ago.
Revenue at the Dublin, Ireland-based company fell about 13
percent to $9.9 million, on lower contributions from Internet
radio and Internet poker businesses.
CryptoLogic said it expects costs would reduce further in
2010, as it was implementing additional measures to manage
overheads. On Tuesday, it said it would integrate its Cyprus
office with its existing operations in Malta.
In 2010, it sees improved revenue from hosted casino as new
licensees go live and existing licensees benefit from
investment in major rebranding.
CryptoLogic shares, which have gained about 6 percent in
the last three months, closed at C$3.45 Monday on the Toronto
(Reporting by Ashutosh Joshi in Bangalore; Editing by Aradhana