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Casino equipment maker reports record earnings

Thursday, Aug. 22, 2002 | 11:30 a.m.

Acres Gaming Inc. on Wednesday reported record earnings for the fourth quarter, a 76 percent increase over last year, boosted by strong increases in software deliveries and royalty income despite an overall economic slowdown.

The Las Vegas-based company reported earnings of $3 million for the fourth quarter, or 29 cents per share, compared to $1.7 million, or 16 cents per share, for the same period a year ago.

Revenues for the fourth quarter were $9.3 million, compared to $13.6 million last year. Gross profit margin increased to 66 percent for the quarter, up from 35.2 percent, primarily due to a increase in software sales and royalty fees, which carry a higher profit margin than the hardware sales recorded in the prior year, the company said.

Acres Gaming makes accounting and marketing tools for casinos, including software that allows casinos to track bonus points earned by gamblers.

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