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Gaming Partners International swings to loss in Q1

Gaming Partners International Corp. said its normalized net income for the first quarter was a loss of $74,380, compared with income of $1.1 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 0.5% from 6.0% in the year-earlier period.

Total revenue declined 13.7% on an annual basis to $16.1 million from $18.7 million, and total operating expenses fell from the prior-year period to $16.1 million from $16.9 million.

Reported net income totaled a loss of $79,290, or a loss of 1 cents per share, compared to income of $1.9 million, or 24 cents per share, in the year-earlier period.