Brief: Anchor Gaming again posts record results

Friday, Jan. 22, 1999 | 11:22 a.m.

Second-quarter revenue rose to $61.8 million from $53.5 million. Anchor said the results reflect the 26th consecutive quarter in which revenue, net income and per-share net increased over the prior year.

First-half net rose to $35.7 million, or $2.82 a share, from $32.7 million, or $2.45 a share, in the fiscal 1998 first six months, Anchor said. Revenue rose to $126.4 million from $108 million.

Anchor said it had about $65 million in cash and an unused $10 million bank line as of Dec. 31. It said it bought back about 361,800 shares during the latest quarter for about $18.4 million, or an average of $50.98 a share.

As of Dec. 31, there were 638,200 shares authorized for repurchase under Anchor's previously announced stock-buyback program. The company has just under 12.2 million shares outstanding.

Anchor Gaming develops proprietary games for sale or lease to casino operators and operates two Colorado casinos and a large gaming-machine route in Nevada.

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