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PlayAGS Q1 loss widens YOY

PlayAGS Inc. said its normalized net income for the first quarter came to a loss of 62 cents per share, compared with a loss of 20 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $14.4 million, compared with a loss of $3.1 million in the year-earlier period.

The normalized profit margin dropped to negative 35.9% from negative 16.5% in the year-earlier period.

Total revenue grew year over year to $40.2 million from $18.8 million, and total operating expenses increased year over year to $44.3 million from $19.0 million.

Reported net income totaled a loss of $21.1 million, or a loss of 91 cents per share, compared to a loss of $9.2 million, or a loss of 59 cents per share, in the prior-year period.