The Swedish e-gaming software developer reported a 15% increase in net sales up to SEK 246 million, while royalty revenues increased by 55% to SEK 191.1 million. Net profit was SEK 8.1 million.
During the fourth quarter, Boss Media was selected as the supplier of a full-scale poker system for Svenska Spel, which was granted a permit by the Swedish Government in late-November to operate an Internet poker site. Delivery is expected to take place during the first quarter of 2006.
In addition, the Swedish developer signed a contract with Virgin Poker for its growing poker network, which increased the number of players by about 30% while global growth during the same period amounted to about 3-5%.
After the closing date, Boss Media also signed a pilot agreement with Sportingbet, the world’s largest online-betting operator, covering delivery of BVerified, an entirely new security system that can be integrated in the operators’ existing payment system and result in increased control, internal security, reliability and efficiency. BVerified was developed by Boss Media’s subsidiary WebDollar AB, which also uses the product as part of its payment services. The demand for this type of system-integrated security solution is high among operators.
Despite mobile gaming is still expected to become a strong source of revenues for both gaming and telecom companies in the future, Boss Media decided to write down to about SEK 10 million the development costs relating to systems for gaming via mobile phones acquired during the second quarter for SEK 40 million.
In 2006, Boss Media expects to increase net sales by 20% to 25%, in line with the rest of the market.
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