Bingo.com has released its unaudited financial results for the third quarter ending 30th September 2011. Net income for the three months was $15,158 which is a 78% increase on the $8,520 reported in the second quarter. Revenues for the quarter totalled $416,732 which is 15% higher than the second quarter which totalled $363,492.

Gaming Revenue was $398,803 in the quarter ended September 30, 2011, an increase of 13% from revenue of $352,413 in the second quarter of 2011, and an increase of 382% compared to Gaming Revenue of $82,745 in the third quarter of 2010. This increase compared to the second quarter of 2011 and the third quarter of fiscal 2010 is due to increased marketing efforts. The company reported advertising revenue of $17,929 in the quarter ended September 30, 2011, an increase of 62% from advertising revenue of $11,079 in the second quarter of 2011, and an increase of 21% from advertising revenue of $14,764 in the third quarter of 2010.

Operating costs before interest, and depreciation expenses, including sales and marketing and general and administrative expenses were $401,575 in the third quarter of 2011, an increase of 13% over operating costs of $354,947 in the second quarter of 2011 and an increase of 25% over operating expenses of $322,264 in the third quarter of 2010. The increase in operating expenses compared to the second quarter of 2011 and the third quarter of 2010, is the result of an increase in marketing efforts.

"Bingo.com has increased revenue and profits in the third quarter of 2011", said Jason Williams, Bingo.com's CEO. "We continue to build on the success of our restructuring program and marketing efforts. Despite the challenging summer months and a significant negative effect from currency fluctuations due to the strengthening of the United States Dollar, our reporting currency, Bingo.com has performed well. The benefits of Bingo.com's participation in the Unibet partner program are now being realized with gaming revenues increasing by 382% when compared with the same quarter in 2010. Leveraging the multi-language and multi-currency features of the Unibet platform, Bingo.com's European expansion is proving successful with several markets now contributing significant portions of our revenue. Player acquisitions and gaming activity on Bingo.com remain high and we hope to continue our success with further marketing investments in the fourth quarter."

The company had cash of $938,199 and positive working capital of $1,028,111 at September 30, 2011. This compares to cash of $886,428 and positive working capital of $1,002,277 at June 30, 2011.