International edition
September 22, 2020

Gross income was us$ 3,7 million

GPI reports financial results for the first quarter of 2010

(US).- International provider of casino currency and table gaming equipment, Gaming Partners International Corporation, announced financial results for the first quarter ended last March 31. For the period, the company posted revenues of us$ 10.9 million and gross income of us$ 3,7 million.

T

hese results compare to revenues of us$ 8.9 million and net loss of us$ 0.5 million for the first quarter of 2009. Gross profit for the quarter was us$ 3,7 million, or 34% of revenues, compared to us$ 2.4 million, or 27% of revenues, for the first quarter of 2009.

Stockholders' equity decreased by us$ 1.2 million in the first quarter of 2010 to us$ 38.3 million. As of March 31, 2010 the company had cash, cash equivalents, and marketable securities of us$ 19.1 million, compared to us$ 18.8 million as of December 31, 2009.

"First quarter revenues were up more than 20% over last year and we had a break-even bottom line, which was a notable improvement over last year's first quarter loss," said Greg Gronau, GPIC's President and CEO.

"I am excited about our second quarter. We got off to a strong start with the shipment to Singapore of the Marina Bay Sands order, which was originally planned to be shipped in the first quarter. Additionally, the Company recently received temporary licenses to distribute its products in Pennsylvania and Delaware. We are now aggressively soliciting orders in those states to supply casinos that are expected to begin table game operations this summer," Gronau added.

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