PokerPulse Letters

Q3 08 EPS + Segment Estimates - FINAL
(All numbers updated as of 9/30/08)

Q3 Estimate (Excluding ISP sale and Asian Games write-off)
EPS: ~$0.170
Rev: ~$51.51 million
Net Inc: ~$10.17 million

Q3 Estimate (Including ISP sale and Asian Games write-off)
EPS: ~$0.228

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Q4 Estimate (Excludes non-op income)
EPS: ~$0.199
Rev: ~$58.08 million
Net Inc: ~$11.94 million

Q4 Estimate (Includes non-op income)
EPS: ~$0.241
Rev: ~$58.08 million
Net Inc: ~$14.44 million

FY 08 Estimate (Excluding one-time gains)
EPS: ~$0.757
Rev: ~$216.69 million
Net Inc: ~$45.39 million

FY 08 Estimate (Including one-time gains)
EPS: ~$0.857
Rev: ~$216.69 million
Net Inc: ~$51.39 million

Thanks again for posting this.

Regards,
Chris

 

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Q3 08 EPS + Segment Estimates - FINAL

Keep in mind that this is what I consider to be the most accurate representation of potential earnings based on currently available information, and they are subject to significant change based on updated information.

***READ ALL THE NOTES INCLUDED BELOW***

Q3 Estimate (Excluding ISP sale and Asian Games write-off)
EPS: ~$0.170
Rev: ~$51.51 million
Net Inc: ~$10.17 million

Q3 Estimate (Including ISP sale and Asian Games write-off)
EPS: ~$0.228

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Segment Breakdown
Gaming
EPS: ~$0.177
Rev: ~$35.93 million
Inc: ~$10.59 million

Casual Games
EPS: ~$0.059
Rev: ~$12.79 million
Inc: ~$3.54 million

M4$ - No $ Contribution Expected

AGP
EPS: ~$0.002
Rev: ~$394 k
Inc: ~$106 k

ES (Everest Sportsbook) - No $ Contribution Expected

ISP (Excluding sale gain)
EPS: ~$0.003
Rev: ~$2.39 million
Inc: ~$172 k

NSE (Excluding Asian Games write-off)
~$4.25 million
EPS: ~$(0.071)

NSE (Including Asian Games write-off)
~$8.75 million
EPS: ~$(0.146)

NSI
~$8.00 million
EPS: ~$(0.133)

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NOTES
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All EPS numbers and calculations are based on a 60 million share full-dilution count, which is based on reported total outstanding shares. EPS numbers correspond to reported "GAAP Net Income Per Share, Diluted", and Net Income numbers correspond to "GAAP Net Income".

Gaming represents both EP and EC. M4$, ES, and AGP results are provided separately. EP and EC models have been adjusted in an attempt to account for the inclusion of "Virtual Wallet" and the WSOP sponsorship.

The AGP estimates include all associated games that are part of the package, such as Pachinko, Pachislo, Japanese Poker, and Mahjong, adjusted to match current selection.

Casual Games represents contributions from FunTown, T2CN, as well as any contributions from MMO's and other casual game or social network sites that GIGM operates (Xbox games currently excluded).

ISP incorporates prorated results.

NSE = Non-Specified Expenses, which represents all expenses that are not necessarily directly attributable to any particular segment (i.e.
Administrative, Acquisition, Consolidation, Distribution, Marketing expenses, etc.).

NSI = Non-Specified Income. Like the NSE, but used to account for one-time gains, or other similar sources of income that are not necessarily attributable to any given segment (i.e. - license fees, investment gains, etc.).

These estimates and targets are being provided without guarantee, and should be considered for general reference purposes only. Under NO circumstances should anyone base investment decisions on these estimates.

FWIW, these are JMHO.

 

 

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