Monday 19th May 2008 GigaMedia Has Record Quarter
Taiwanese online software developer GigaMedia Limited has revealed that its revenues climbed 51 percent to reach a record $54.6 million for the first quarter of 2008.
In addition, the Taipei-based operator of online casino EverestPoker.com stated that operating income rose by 49 percent to $12.9 million due to the continued strong growth of its poker software business in Europe and greater contributions from its online games business in Asia.
The firm announced that its net incomes for the quarter came in at $12.1 million, a rise of 43 percent year-on-year and up 13 percent from the previous period.
“GigaMedia delivered an excellent first quarter based on solid execution in all businesses; strong growth in our world-leading poker software business, record results in our casino software business and an exciting lift in our Asian online games business,” said Thomas Hui, President for GigaMedia.
“We are driving outstanding growth from our existing products, pointing to even more powerful growth to come from the new offerings we are rolling out this year.''
“We start 2008 with an excellent quarter, a strong foundation from which to introduce a new line-up of top games and offerings,” said Arthur Wang, Chief Executive Officer for GigaMedia.
“Our plans to launch in Japan this quarter, to add casino products to our poker client and to acquire or partner with a sportsbetting firm all should drive even greater momentum and make 2008 another record year.'
Source: OnlineCasinoNews
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