Some of the main financial highlights for the first quarter of 2006 were:
- Average daily sign ups for the quarter were 3,609;
- Total customers at the quarter end were 2,645,502;
- Average daily receipts from customers were $4.69m, up from $2.87m in the first quarter of 2005;
- Revenues were $57.9m, up 69 % over the first quarter of 2005
- Gross margin for the quarter was 73.5 %
- Continued investment in IT and product teams resulted in higher general and administrative costs;
- Income before tax was $27.7m
- Net income after tax was $26.5m
- Basic earnings per share amounted to $0.22
From these figures it can be seen that Neteller’s business is impressively profitable with huge gross margins and a very low tax rate allied with an unstoppable demand from gaming customers and poker companies. There will no doubt come a time when pressures come to bear either through new competition or other economic forces. In the meantime, we as players continue to bear the costs of convenience!
Above cortesy of Pokernews.com
- Average daily sign ups for the quarter were 3,609;
- Total customers at the quarter end were 2,645,502;
- Average daily receipts from customers were $4.69m, up from $2.87m in the first quarter of 2005;
- Revenues were $57.9m, up 69 % over the first quarter of 2005
- Gross margin for the quarter was 73.5 %
- Continued investment in IT and product teams resulted in higher general and administrative costs;
- Income before tax was $27.7m
- Net income after tax was $26.5m
- Basic earnings per share amounted to $0.22
From these figures it can be seen that Neteller’s business is impressively profitable with huge gross margins and a very low tax rate allied with an unstoppable demand from gaming customers and poker companies. There will no doubt come a time when pressures come to bear either through new competition or other economic forces. In the meantime, we as players continue to bear the costs of convenience!
Above cortesy of Pokernews.com
