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twitterBrief: Lower profit for LV gaming supplier
Thursday, Jan. 14, 1999 | 11:06 a.m.
The company reported a loss of $293,000, or 8 cents per share, compared to a loss in the 1997 quarter of $248,000 or 7 cents. Revenues declined from $6.1 million in the 1997 quarter to $5.5 million.
The company blamed the decline on fewer sales of furniture and other equipment due to fewer new casino openings and expansions in 1998.
"Although we are disappointed with the ... results, revenue levels for the remaining two quarters of our fiscal year are anticipated to be stronger," said Eric P. Endy Jr., chairman and chief executive of Paul-Son.
Paul-Son's fiscal year runs June to May.
Paul-Son also announced a $1 million order for casino equipment for the Venetian hotel-casino, and said it expects orders for Mirage Resort's Beau Rivage hotel-casino and the Mandalay Bay hotel-casino to boost earnings in coming quarters.
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