BOSS PROFITS EASE

17 August 2007

Quarter 2 net profits down SEK 16.3 million

The quarter 2 for 2007 results from Swedish turnkey provider Boss Media show a disappointing drop in net profits from SEK 26.9 million to SEK 10.6 million.

In an Interim Report covering the period 1 January – 30 June 2007 the company revealed that:

• Sales increased by 5 percent to SEK 161.9 (154.5) million.

• Royalty revenues decreased by 7 percent to SEK 115.8 (125.0) million.

• Operating profit amounted to SEK 27.5 (26.8) million.

• Profit after financial items was SEK 37.7 (26.7) million.

• Net profit was SEK 26.9 (34.1) million.

However, in the period April to June 2007:

• Sales increased by 2 percent to SEK 80.2 (79.0) million.

• Royalty revenues decreased by 12 percent to SEK 56.7 (64.2) million.

• Operating profit amounted to SEK 12.1 (15.7) million.

• Profit after financial items was SEK 14.3 (14.9) million.

• Net profit was SEK 10.6 (26.6) million.

Royalty revenues decreased by 7 percent to SEK 115.8 million (Euro 12.4 million), partly due to a drop in poker royalty revenue to SEK 55.5 million (Euro 5.9 million) from SEK 60 million one year earlier.

Boss Media’s poker clients include CelebPoker, Virgin Poker, Svenska Spel and Sportingbet.
The company said that outlook for the remainder of the year indicated that net sales for 2007 are still expected to be at the same level as 2006, but the operating margin for 2007 is expected to be lower than previously published forecast of at least 15 percent.

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