Supplier News
US – GPI reports significant increase in Q2 revenues
By Phil - 12 August 2016
Gaming Partners International reported revenues of $20.3m for the second quarter of 2016, compared to revenues of $16.2m in the second quarter of 2015.
During the second quarter ended June 30, 2016, the Company posted net income of $2.1 million, or$0.26 per basic and diluted share, compared to a net loss of $0.1 million, or ($0.02) per basic and diluted share, in the same period in 2015. The increase in net income for the three months ended June 30, 2016 was primarily due to an increase in casino currency sales in the United States and an increase in sales of RFID solutions in Asia.
During the first six months of 2016, the company had revenues of $36.4m, compared to revenues of $34.9m in the same period of the prior year. During the first six months of 2016, the company posted net income of $2.0 million, or $0.25 per basic and diluted share, compared to a net income of $1.8m, or $0.23 per basic and diluted share, for the comparable period of 2015. The increase in net income is primarily due to an increase in casino currency sales in the United States and in Europe and Africa, offset partially by a decline in casino currency sales in the Asia Pacific region.
“We are quite pleased with our sales and net income for the second quarter of 2016. Increased sales of casino currency, RFID solutions and consumables compared to the same period last year drove these improved results,” commented Gregory Gronau, GPIC President and Chief Executive Officer. “Our recent acquisition of Dolphin’s gaming currency assets will help further strengthen our market position in Asia. We have a backlog of $13.1m in orders from the Asia market, up from $9.1m at the same time last year. In the United States, the rapid growth of our playing card business is helping to produce higher revenues but has generated operational challenges. In response, we have invested significantly in additional equipment and anticipate the opening of our expanded facilities in the second half of 2016.”
