LV timeshare firm posts a profit

Mego Financial Corp. of Las Vegas, a timeshare sales company, today reported a profit for its third quarter ending May 31 of $1.1 million or 5 cents per share, an improvement from a loss in the year-ago quarter of $113,000 or 1 cent per share.

Revenue increased from $17.5 million to $20.3 million.

Mego said it decreased general and administrative expenses while its timeshare and land-sales subsidiary, Preferred Equities Corp., worked to lower its costs.

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