CALGARY-Mobile content provider Chartwell Technology Inc. increased revenue growth by 83 percent in the third fiscal quarter, the company announced Thursday.
According to a Chartwell release, the company generated $2.8 million in revenue in the quarter ending July 31. Chartwell generated $1.5 million over the same period in fiscal 2003.
During the period, earnings increased 466 percent, and earnings per diluted share increased 250 percent, the company said. Meanwhile, operating expenses more than doubled, increasing to $1.65 million from $811,000 last year.
“Solid revenue and earnings performance continued in the third quarter, and we remain on track to achieve our financial objectives for 2004,” said Don Gleason, Chartwell’s chief financial officer. “For the remainder of 2004 we will continue to focus on profitability, expanding our customer base and product portfolio.”
The company also announced a change in accounting policy that will require a restatement of financial results for the last three fiscal years. Chartwell said the restatement, which will be completed by the end of October, is not expected to be “adversely material to the financial statements.”
