Positive Results For GigaMedia
By Staff
Revenues for Taiwanese online gaming software firm GigaMedia Ltd rose 73 percent from last year driven by the continued growth of its Internet poker software business in continental Europe.

The Taipei-based firm posted fourth-quarter results showing revenues from its core gaming software segment rising to $34.2 million with those from Asia increasing 92 percent to $10.1 million.

The firm’s poker software business was also up 107 percent from the previous year, contributing about 78 percent of the gaming software segment's revenues for the period, while net income rose eight percent to $10.7 million compared with $9.9 million a year ago. GigaMedia also revealed that consolidated revenues increased 59 percent to $47.7 million.

The firm stated that revenues are expected to climb sharply this year in its Asian online games business boosted by new games launches alongside those from its gaming software business.

GigaMedia’s EverestPoker.com online casino brand signed a multi-year promotional deal earlier this month with the World Series of Poker, the world's largest and most prestigious land-based poker tournament, and also stated that it intends to dispose of its broadband Internet service provider business and is in discussions with potential buyers.

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