Revenue from other products was $3.4 million in the third quarter of 2012, an increase of 60% compared to $2.1 million in the third quarter of 2011. The increase was a result of higher sales of gaming chips and plaques, which were $1.7 million for the third quarter of 2012 compared to $241,000 in the prior year period. The third quarter of 2012 gaming chip and plaque revenue included a large order for $1.6 million from a prominent long-time customer. Given the relatively short lead time for this order and inefficiencies related to the first time utilization of in-house plaque production processes that were previously outsourced, the Company incurred higher than normal expenses related to this order. This negatively impacted the gross profit for these operations for the quarter.Adjusted EBITDA was $2.3 million for the third quarter of 2012 compared to $2.8 million for the prior year period. The decrease was primarily a result of lower slot revenue from the Company’s operations at NagaWorld and higher gaming division expenses related to the new casino operations, which are still ramping up.
Entertainment Gaming Asia Reports Third Quarter 2012 Results And Provides Market Update
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts