Sodak earnings rise

Wednesday, July 28, 1999 | 11:21 a.m.

RAPID CITY, S.D. -- Slot distributor Sodak Gaming Inc. today reported second-quarter net income of $5.2 million, or 23 cents a share, up from $2.9 million, or 13 cents a share, in the 1998 period. Revenue rose to $22.5 million from $21.4 million.

The company also said its shareholders approved the previously announced merger with International Game Technology. The merger agreement calls for Sodak to sell its Miss Marquette riverboat, which is incorporated in the financial results as a discontinued operation.

Sodak said net income from continuing operations was $3.8 million, or 17 cents a share, in the latest quarter.

Sodak's distribution of slots and other gaming equipment to Indian casinos produced $16.7 million of revenue in the latest quarter, while its operation of wide-area progressive systems added $4.1 million to the total.

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