Online Gambling Guide featuring Best Online Casinos,
Online Gambling Payouts and recommendations for Gambling online
ONLINE GAMBLING GAMBLING NEWS POKER UK CASINOS SPORTSBOOK BINGO SITE MAP
Casinos Online
  GAMBLING WIZ
  Home
  Top 10 Casinos
  Best Payouts
  New Casinos
  Casino Reviews
  Best Bonuses
  No Deposit Bonuses
  High Roller Bonus
  Biggest Jackpots
  Live Dealers
  Be the Dealer
  Gambling Awards
  GAMBLING NEWS
  Latest News
  News Archives
  Gambling Articles
  PLAYER RESOURCES
  Players Guide
  Gambling History
  Gambling Glossary
  Gambling Articles
  Commandments
  Winning Games
  Losing Games
  Gambling Do's & Don'ts
  Gambling Quotes
  House Edge
  Gambling Probabilities
  Gambling Money Management
  Gambling Psychology
  Practice for Free
  Gambling Jokes
  Gambling News
  Gambling Books
  RULES & STRATEGIES
  Video Poker
  Baccarat
  Blackjack
  Craps
  Roulette
  Slot Machines
  Betting Systems
  GAMBLING SOFTWARE
  Microgaming
  Playtech
  Real Time Gaming
  Boss Media
  Cryptologic
  OddsOn
  Viper
  Other Software
  CASINO GROUPS
  Belle Rock Gaming
  Fortune Lounge
  Bright Share
  Casino Partners
  Vegas Partners
  Casino Profit Share
  Casino Rewards
  Casino Coins
  BANKING METHODS
  FirePay
  Neteller
  Citadel
  Click2Pay
  PaySpark
  Other Methods
  MORE GAMBLING
  Flash Casinos
  UK Casinos
  Poker
  Sportsbook
  Bingo
  Lotteries
  Backgammon
  MISC.
  Casino Affiliates
  Directory
  Webmasters
  Newsletter
  Contact Us
 
 
 
Online Gambling Guide by Jerry Whittaker…
The Gambling Wiz        
Online Gambling Guide in your language: Online Gambling | Spanish  Online Gambling | French  Online Gambling | German  Online Gambling | Italian  Online Gambling | Dutch  Online Gambling | Portugese  Online Gambling | Russian  Online Gambling | Chinese  Online Gambling | Korean  Online Gambling | Japanese
"I have put together an Online Gambling resource center that focuses on the best
online gambling games as well as the best gambling sites to increase your odds of winning."
- Jerry Whittaker        
 

GameTech Reports Q1 Results

GameTech International, Inc., a leading designer, developer and marketer of electronic bingo equipment and bingo systems, today announced financial results for the Company's first quarter ended January 31, 2006. Net income totaled $839,000 or $0.07 per fully diluted share compared with $1,000, or $0.00 per share in the same period in 2005. Revenue for the quarter totaled $12.3 million, slightly higher than in the first quarter of 2005.

The Company's increased profitability resulted from more favorable gross profit margins of 62.3% for the first quarter of 2006 compared with 55.6% in 2005 and reductions in operating expenses to 52.0% of revenue, down from 55.9% of revenue in 2005. Management's continuing cost-saving initiatives, such as personnel reductions, decreases in depreciation and reduced operating expenses, were instrumental in achieving more positive ratios.

While revenue for the quarter was only slightly higher than in the same period in 2005, the Company saw increased revenue in key markets, including Michigan, Kentucky and Nevada, among others. Revenue from these expanding markets offset decreased revenue due to the loss of certain accounts and the reduction of the Oklahoma market as a result of unfavorable legislative action.

"We are pleased that the first quarter of 2006 has allowed us to continue the successes we realized during the latter part of fiscal 2005. The substantial improvement in net income this quarter from the same period last year indicates we are seeing the beginning of the benefits of our cost-saving initiatives we have put into place and the early stages of our market expansion efforts. We have reduced litigation activity, which has substantially reduced our legal expense. At the same time, we have realigned our infrastructure and reduced our operating expenses in most areas," said Jay Meilstrup, GameTech's President and Chief Executive Officer.

Meilstrup continued, "We are pleased with our first quarter results. Our efforts moving forward are focused on increasing our current business base, developing new products and concepts and expanding into new markets."

GameTech International is a leading developer and marketer of a comprehensive line of electronic bingo equipment, including portable bingo terminals, fixed-base terminals, and turnkey accounting and management software systems. The Company supports its bingo operator customers with products that typically increase play, revenue and profits, and with software customized to enhance management and operations, all backed by unparalleled customer service and support.

 
Remember, you can beat the odds, but you can't beat the percentages.
Copyright 2000-2007 Online Gambling Guide - GamblingWiz.com All Rights Reserved