Brief: Loss widens for gaming supplier
Thursday, Oct. 22, 1998 | 11:50 a.m.
In the quarter ending Sept. 30, the Palo Alto, Calif., gambling machine maker reported a loss of $14.7 million, or $1.06 per share; compared to a loss of $6.3 million, or 58 cents per share, in the year-ago quarter.
But revenues increased from $2.8 million last year to $5 million.
Silicon Gaming attributed the higher loss to $7.8 million in special charges related to licensing arrangements, revised inventory standards, reserves for doubtful accounts, and costs in connection with the August resignation of the company's chief executive officer.
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