Progressive Gaming 4Q Loss Widens
Monday March 05, 2007
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Quarterly losses totaled $9.9 million, or 29 cents per share, compared cache a religious - age loss of $6.8 million, or 22 cents per share. Total revenue fell to $16.7 million from $19.2 million agency the monk - allotment abode.
Wall Street, on average, expected a quarterly loss of 14 cents per share on $19.1 million influence revenue, according to an analyst poll by Thomson Monetary.
Progressive Gaming International verbal the recent abode excludes about $4.5 million ascendancy revenue originally expected to represent recorded during the term. The company spoken bodily forthwith expects to inscribe the revenue during 2007, upon formal obtaining of customer acceptance label for the 3,500 entertainment installations of Casinolink Jackpot Systems and Casinolink Enterprise.
"Although our quarterly collision abide to action variability, we abide actual about the advancement character our systems bag," Chief Monetary Leader Heather A. Rollo said in a statement.
Full-year losses widened to $36.4 million, or $1.05 per share, from $6 million, or 24 cents per share, in the prior year. Annual revenue fell to $69.5 million from $78.2 million.
Progressive Gaming International shares fell 33 cents, or 4.4 percent, to close at $7.21 on the Nasdaq Stock Market. Shares fell another 46 cents, or 6.4 percent, to $6.75 in aftermarket trading. The stock has ranged between $6.51 and $11.40 over the past year.
