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Chartwell posts Q1 loss as revenue slump continues

18th March 2011 10:10 am GMT

Canada's Chartwell Technology Inc has reported total revenues of CAD$2.2m for the first quarter ended January 31st, a decline of 37 per cent versus the corresponding period last year, with total expenses now accounting for more than 170 per cent of revenues.

Chartwell said that licence revenues were down 11 per cent versus the previous quarter due to loss of Betfair as a major licensee last August.

Software development and support expenses remained flat compared to last [...]

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