Manufacturer reports wider loss

Las Vegas-based Paul-Son Gaming Corp. reported increased quarterly losses, results it blames on a lack of new casino openings.

The casino equipment manufacturer reported a net loss of $1.13 million, or 33 cents per share, for the quarter ending Nov. 30. In the year-ago quarter, the company's loss was $293,000, or 8 cents per share. Revenues fell 10 percent, to $4.9 million.

About half of the quarterly loss was caused by a non-cash provision for income taxes. This provision of $557,000, or 16 cents per share, was recorded "based on uncertainties surrounding the realization of future deferred tax benefits," Paul-Son said.

Net loss before income taxes was $572,000, or 17 cents per share, compared to $449,000, or 13 cents per share, in the year-ago quarter.

The company also announced it has acquired a patent for a more efficient, cost-effective method for producing table game layouts. Paul-Son expects this new method to begin improving revenues and profit margins by May 31, the end of its fiscal year.

Paul-Son manufactures and supplies casino table game equipment.

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