Slot maker's loss narrows

Silicon Gaming Inc. of Palo Alto, Calif., reported a loss of $2.7 million, or 9 cents per share, for the quarter ending March 31. The loss was a significant improvement over the loss of $9 million, or 64 cents per share, in the year-ago quarter.

The company's revenues took a substantial dip, however, sinking 46 percent to $3.1 million. Net loss per share was also affected by a 120 percent increase in the number of shares outstanding.

Silicon Gaming said its losses were reduced by the offsetting of operating expenses as the company "invested considerable resource in a new product paradigm that we believe will enhance our operating performance." Silicon Gaming did not specify how much in operating expenses were offset, nor did the company elaborate on its new business model.

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