Finances improve for LV firm

Thursday, Oct. 31, 2002 | 11:11 a.m.

Mikohn Gaming Corp., a Las Vegas gaming company in the middle of a restructuring, reported a third quarter loss of $30.2 million or $2.35 per share. That compares to a loss in the 2001 third quarter of $1.4 million or 12 cents.

Included in 2002 third quarter results are previously announced charges of $27.4 million for restructuring initiatives, impairment losses, losses from discontinued operations and various other items.

Net loss before the $27.4 million charge was $2.8 million or 22 cents per share.

The 2001 quarter's loss included a charge of $3.4 million for the early extinguishment of debt and a loss from discontinued operations.

Despite its difficulties, the casino supplier said quarterly revenue increased 18 percent to $29.6 million, that it generated $6 million in cash flow and that it anticipates it will break even in the fourth quarter.

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