Profit falls at Casino Data

Thursday, April 22, 1999 | 11:33 a.m.

Casino Data Systems of Las Vegas today reported a lower profit for its first quarter of 1999 -- but emphasized it has now reported profits for five consecutive quarters.

Net income for the quarter ended March 31 was $192,000, or 1 cent per share on a basic basis, compared to $320,000 or 2 cents in the same quarter in the prior year.

Quarterly revenue of $15.7 million was up $3 million from the 1998 quarter. Income from operations of $183,000 was up from $109,000 in the 1998 quarter.

"Consistent with the objectives we stated last quarter, we increased both revenues and income from operations," said Lee Lemas, chief operating and financial officer. "Also consistent with the objectives we stated in the prior quarter, we will continue to seek greater profit through increased revenue while we maintain our focus on cost controls and increasing production efficiencies throughout 1999."

"We are extremely pleased with the revenue growth generated by our games and systems lines of business. Our Bandit Bingo game and Oasis Windows system have generated tremendous excitement with our casino customers," said Steve Weiss, chairman and chief executive. "We plan to build on the momentum generated by these products with future releases of several other exciting games in the Bandit series combined with increased penetration of our Oasis Windows system."

The company sells casino management systems, games and meters, multiple site progressive systems and casino signage.

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