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Vegas casino supplier loses $5.8 million

Tuesday, July 30, 2002 | 11:14 a.m.

Mikohn Gaming Corp. of Las Vegas today reported a loss for the second quarter ended June 30 of $5.8 million or 45 cents per share, compared with a profit of $1.8 million or 16 cents in the year-ago quarter.

Second quarter revenues were $25.9 million, compared with $27.2 million in the 2001 quarter.

Mikohn said its quarterly results were hurt by one-time charges and adjustments totaling $2 million, including $750,000 for tax matters, $350,000 in nonrecurring expense for "labor relations," $300,000 in international restructuring charges and $600,000 in incremental charges to reserves for inventories and doubtful accounts.

The company, which makes signs and games, also cited $1.6 million in higher interest charges and higher depreciation and amortization expenses.

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