On May 10, CryptoLogic (NASDAQ:CRYP) released Q1 2006 earnings for the period ended March 31.

  • For the third straight quarter, earnings came in ahead of estimates.
  • Diluted share count declined, but there are still a significant number of options out there.
  • All of the reported metrics moved in favorable directions, though the huge drop in capital expenditures might be a concern.

(Figures in thousands, except per-share data)

Income Statement Highlights

Avg. Est.

Q1 2006

Q1 2005

Change

Sales

$24,980

$26,997

$20,274

33.2%

Net Profit

--

$7,662

$4,839

58.3%

EPS

$0.49

$0.56

$0.34

64.7%

Diluted Shares

13,687

14,184

(3.5%)

Get back to basics with a look at the income statement.

Margin Checkup

Q1 2006

Q1 2005

Change*

Gross Margin

39.42%

37.09%

2.33

Operating Margin

27.65%

24.65%

3.00

Net Margin

28.38%

23.87%

4.51

*Expressed in percentage points.

Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q1 2006

Q1 2005

Change

Cash + ST Invest.*

$110,077

$83,155

32.4%

Accounts Rec.

$8,344

$8,288

0.7%

*Not including security deposits.

Liabilities

Q1 2006

Q1 2005

Change

Accounts Payable

$41,286

$28,989

42.4%

User Funds on Deposit

$29,204

$20,729

40.9%

Learn the ways of the balance sheet.

Cash Flow Highlights

Q1 2006

Q1 2005

Change

Cash From Ops.

$11,466

$2,588

343%

Capital Expenditures

$222

$1,592

(86.1%)

Free Cash Flow

$11,244

$996

1028.9%

Find out why Fools always follow the money.

Related Companies:

  • Progressive Gaming (NASDAQ:PGIC)
  • Interactive Systems (NASDAQ:ISWI)
  • PartyGaming (LSE:PRTY.L)

Related Foolishness:

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Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.

At the time of publication, Jim Mueller had a position in CryptoLogic. Fool rules are here.