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Gaming Partners International swings to profit in Q1

Gaming Partners International Corp. said its normalized net income for the first quarter came to 14 cents per share, compared with a loss of 8 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.1 million, compared with a loss of $621,250 in the prior-year period.

The normalized profit margin increased to 6.0% from negative 5.9% in the year-earlier period.

Total revenue rose 76.7% on an annual basis to $18.7 million from $10.6 million, and total operating expenses grew 45.5% on an annual basis to $16.9 million from $11.6 million.

Reported net income came to $1.9 million, or 24 cents per share, compared to a loss of $1.1 million, or a loss of 14 cents per share, in the prior-year period.