Trading halted in LV company's stock after it plunges

SUN STAFF REPORT

The Nasdaq Stock Market this morning halted trading in the stock of Mikohn Gaming Corp. of Las Vegas after the gaming company said it was restating its financial results, causing the stock price to plunge 25 percent.

Mikohn was trading at $3.06, down $1.06, when trading was halted. In announcing the halt, Nasdaq said it was seeking additional information from Mikohn.

Mikohn officials could not immediately be reached for comment on the trading halt.

Early today, the company said it would revise downward its 1999 net income per share from 35 cents to 9 cents because of timing issues associated with the $4.3 million sale of 50 percent of its Australian subsidiary. Mikohn is also adjusting its net income for the first three quarters of 2000.

Mikohn said it's deferring the $4.3 million gain on the sale until it completes a contract to provide progressive jackpot hardware and software to the buyer, TAB Ltd.

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