[May 16, 2012] Gaming Partners International Posts Financial Results for the 1st Quarter of 2012 Tweet May 16, 2012 (Close-Up Media via COMTEX) -- Gaming Partners International Corp., a provider of casino currency and table gaming equipment, announced financial results for the first quarter ending March 31. In a release on May 10, the Company reported that for the first quarter of 2012, it posted revenues of $15.4 million and net income of $1.3 million, or $0.16 per basic and diluted share. These results compare to revenues of $17.8 million and net income of $1.7 million, or $0.21 per basic and diluted share, for the first quarter of 2011. Gross profit for the quarter was $5.2 million, or 34 percent of revenues, compared to $6.3 million, or 36 percent of revenues, in the prior year period. The primary reason for the decrease in revenues in first quarter 2012 net income was comparably lower sales of chips to casinos in Macau. The Company ended the quarter with $23.6 million in cash, cash equivalents and marketable securities and no debt. "We saw strong revenue growth in the United States in the first quarter, compared to last year's first quarter, with an increase in openings and replacement orders," said Greg Gronau, GPIC President and Chief Executive Officer. "While sales in Asia were down in the first quarter, due to large orders in Macau with the Galaxy and Sociedade de Jogos de Macau S.A. casinos in the first quarter of 2011, we expect an increase in Asian orders for the remainder the year, as reflected in our recent announcement of three new orders for $4.7 million in chip sales to casinos in Macau." More information: www.gpigaming.com ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]