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PlayAGS Q1 loss widens 31.0% YOY

PlayAGS Inc. said its first-quarter normalized net income was a loss of 19 cents per share, compared with a loss of 15 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 a loss of $3.0 million, compared with a loss of $2.3 million in the year-earlier period.

The normalized profit margin dropped to negative 16.5% from negative 13.4% in the year-earlier period.

Total revenue rose 9.5% year over year to $18.8 million from $17.2 million, and total operating expenses increased 13.9% on an annual basis to $18.9 million from $16.6 million.

Reported net income came to a loss of $9.2 million, or a loss of 59 cents per share, compared to a loss of $4.5 million, or a loss of 29 cents per share, in the prior-year period.