Chartwell Announces Posts Third Quarter Results
By philip
Calgary based software company, Chartwell technology, has posted rosy third quarter results this week. Revenue for the third quarter ended July 31, 2004 increased 83%, operating income increased 266%, earnings increased 466% and earnings per diluted share increased 250% compared to the same period of 2003.

“Solid revenue and earnings performance continued in the third quarter and we remain on track to achieve our financial objectives for 2004”, states Don Gleason, Chief Financial Officer. “Our license fee revenue continues to grow at planned levels and prudent and effective cost management have enabled the Company to increase operating margins and net earnings. For the remainder of 2004 we will continue to focus on profitability, expanding our customer base and product portfolio.”

Chartwell specialises in developing Java and Flash based gaming applications for Internet and wireless platforms and other remote access devices. It was recently selected by Deloitte and Touche as one of Canada’s fifty fastest growing technology companies.

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