Gaming Partners International Corporation (NASDAQ:GPIC), a leading worldwide provider of casino currency and table gaming equipment, announced financial results for the third quarter and nine months ended September 30, 2016.
During the third quarter of 2016, the Company had revenues of $22.6 million, compared to revenues of $19.8 million in the third quarter of 2015. During the third quarter ended September 30, 2016, the Company posted net income of $2.4 million, or $0.30 per diluted share, compared to net income of $1.7 million, or $0.21 per diluted share, in the same period in 2015.
During the first nine months of 2016, the Company had revenues of $59.0 million, compared to revenues of $54.7 million in the same period of 2015. During the first nine months of 2016, the Company posted net income of $4.4 million, or $0.55 per diluted share, compared to net income of $3.5 million, or $0.43 per diluted share, for the comparable period of 2015.
The increase in our net income for the three and nine months ended September 30, 2016 is primarily due to an increase in casino currency sales and a decrease in our general and administrative expenses.
The Company announced that it intends to discontinue providing a press release on annual or quarterly basis in connection with the filing of its Form 10-K or Forms 10-Q after the issuance of this earnings release. The Company’s Forms 10-K and Forms 10-Q will continue to be available on the SEC website at www.sec.gov and the Company website at www.gpigaming.com.
About Gaming Partners International Corporation
GPIC manufactures and supplies casino table game equipment to licensed casinos worldwide. Under the brand names of Paulson®, Bourgogne et Grasset®, Gemaco®, Dolphin® and Bud Jones®, GPIC provides casino currency such as chips, plaques and jetons; playing cards; table layouts; gaming furniture and table accessories; dice; and roulette wheels. GPIC pioneered the use of security features such as radio frequency identification device (RFID) technology in casino currency and provides RFID solutions including RFID readers, software and displays. Headquartered in Las Vegas, Nevada, GPIC also has manufacturing facilities, warehouses and/or sales offices in Beaune, France; San Luis Rio Colorado, Mexico; Blue Springs, Missouri; Atlantic City, New Jersey; Gulfport, Mississippi; and Macau S.A.R., China. For additional information, please visit http://www.gpigaming.com.