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twitterGaming supplier’s loss widens
Wednesday, May 14, 2003 | 11:37 a.m.
Mikohn Gaming Corp. on Tuesday reported a wider first-quarter loss on charges and lower revenue from its gaming operations.
Mikohn said its loss widened to $5 million, or 39 cents a share, from $1.9 million, or 15 cents a share, a year earlier.
The loss for the most recent quarter includes $2.3 million in charges from various legal expenses, severance costs, inventory writedowns and accelerated depreciation of slot machines.
Revenue rose to $22.7 million from $21.8 million on increases in its sales business. However, revenue from gaming operations fell to $9.5 million from $11.4 million due to a decline in slot machine revenue.
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