NetEnt Achieves Record Revenues, Profits for the QuarterPublished November 7, 2015 by Lee R
Leadership is strategically primed to maintain the effective growth patterns.
NetEnt chief executive Per Eriksson, chief executive of NetEnt, has trumpeted his company's achievement of record levels of revenue and profit in the three months through to September 30.
Staggering Totals for Q3
The groundbreaking software developer's totals for the third quarter reached SEK 279.8 million (€29.7 million/$33.6 million), for an increase of 28.8% increase from the SEK 217.2 million posted in the corresponding period last year.
Operating profits also jumped significantly, a whopping 43.5% to SEK105.2 million, with operating margin jumping to 37.6%.
More positive results on display for the third quarter include the 44.5% profit after tax total of SEK97.6 million, and a jump in total earnings per share before and after dilution from SEK1.69 to SEK2.44.
Staggering Totals for 2015 Fiscal to Date
The robust performance for Q3 bolstered the robust performance NetEnt is showing for the year to date, with the total revenue for the 2015 at SEK809.3 million, for a healthy jump of 32.5% on the same period in 2014.
However, the most telling and significant figure of all has to be operating profit for the year, which grew 54.3% to SEK 279.8 million, with operating margin up to 34.6%, and profit after tax pushing 55.5% to SEK 258.3 million.
That is the kind of performance from which records are made.
Significant landmark achievements which fueled this growth include the historic milestone of NetEnt games becoming available in the USA for the first time in New Jersey state this quarter, a key to the company's growth strategy according to Eriksson.
This growth strategy is coupled with a product release schedule of at least one new title a month for all customers, along with a committed internal game customization process.
Customization Process Bolsters Growth
The customization process is being bolstered by ongoing operator additions, which 26 new customers set to be launched as NetEnt gaming provider brands, which already include Slotty Vegas Casino, 247Play casino and Spin Empire. At any rate, the model of expansion at NetEnt is an attractive piece of business strategy carefully designed to sustain current record growth. Proactive expansion is the key to continued success at NetEnt, and Eriksson and his colleagues couldn't be more pleased.