LV firm posts slight increase in net income

PDS Financial Corp. of Las Vegas reported net income of $175,000, or 5 cents per share, for the quarter ending March 31.

The results were a $41,000 increase over net income of $134,000, or 4 cents per share, reported in the year-ago quarter. Revenues reached $18 million, an $11.2 million increase, while cash flow increased 41 percent to $5.4 million.

Revenues and cash flow were driven significantly higher by increased equipment sales and lease income. The company recorded revenues of $12.4 million from equipment sales and sales-type leases, up from $2.3 million in the year-ago quarter.

PDS Financial supplies leasing and financing for gaming equipment to casino operators. The company also sells refurbished gaming machines to casinos.

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