International edition
August 02, 2021

At June 30, it had cash, cash equivalents and marketable securities of us$ 18.5 million

GPI released its financial results for the second quarter and six months of 2010

(US).- International provider of casino currency and table gaming equipment Gaming Partners International Corporation, announced financial results for the second quarter and first six months of 2010. For its second quarter of 2010, the company posted revenues of us$ 19.9 million and net income of us$ 2.7 million, respectively.

T

hese results compare to revenues of us$ 11.3 million and net income of us$ 0.2 million for the second quarter of 2009. Gross profit for the quarter was us$ 8.6 million, or 43% of revenues, compared to us$ 3.1 million, or 28% of revenues, for the second quarter of 2009.

For the first six months of 2010, the company posted revenues of us$ 30.9 million and net income of us$ 2.7 million. These results compare to revenues of us$ 20.3 million and a net loss of us$ 0.3 million for the first six months of 2009. Gross profit for the first six months of 2010 was us$ 12.3 million, or 40% of revenues, compared to us$ 5.5 million, or 27% of revenues, for the comparable period in 2009.

At June 30, the company had cash, cash equivalents, and marketable securities of us$ 18.5 million, compared to us$ 18.8 million at December 31, 2009.

"GPIC had a record quarter for gross profit, net income, and earnings per share. Revenues for the first six months of 2010 were up more than 50% over last year and we earned us$ 2.7 million in net income, compared to last year's slight loss," said Greg Gronau, GPIC's President and CEO. "We got off to a strong start in the second quarter with the shipment to Marina Bay Sands in Singapore and we finished the quarter by largely completing the delivery of our orders to casinos which recently commenced table game operations in Pennsylvania, Delaware, and West Virginia. We are proud of our results for the second quarter, but given our current backlog, our second half 2010 results are expected to be more in line with historical performance."

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