American Bingo & Gaming announces record results.AUSTIN Austin. 1 City (1990 pop. 21,907), seat of Mower co., SE Minn., on the Cedar River, near the Iowa line; inc. 1868. The commercial and industrial center of a rich farm region, it is noted as home to the Hormel meatpacking company, whose Spam Town museum , Texas--(BUSINESS WIRE)--April 30, 1996--American Bingo & Gaming Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BNGO) today announced record quarterly sales and earnings results. The company reported that for the first quarter ended March 31, 1996 sales totaled $931,000 and earnings were $168,000 or $.04 per share. This compares with sales of $533,000 and earnings of $21,000 or $.01 per share in the comparable quarter of 1995. These results represent a 75% increase in sales and a dramatic 690% increase in earnings over the prior year's first quarter. The company also reported a 35% increase in cash from year end. Courtland
Incremental cost is additional or increased cost of an item or service apart from its actual cost. profits that will flow directly to our bottom line." Logue recently joined the company as President and Director. Prior to joining the company, Logue founded and served as Chief Executive Officer of EZCORP., a NASDAQ company, which he successfully built into the nation's second largest pawn shop a shop where a pawnbroker does business. - Shak. See also: Pawn chain with over 200 stores prior to his departure in 1995. -0-
American Bingo & Gaming Corp.
Fiscal Quarter Ended March 31, 1996
Consolidated Statements of Operations (Unaudited)
For Three Months Ended March 31,
1996 1995
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Total Revenues $931,058 $532,581 Costs and Expenses, Net 763,385 511,374 Net Income $167,673 $21,207 Earnings Per Share $.04 $.01 Shares Outstanding 4,093,333 4,083,333
Consolidated Balance Sheet
March 31,
1996
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Cash and Cash Equivalents $583,078
Other Current Assets 513,498
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Total Current Assets 1,096,576
Property and Equipment 2,054,020 Notes Receivable 800,644 Other Assets 452,311 Total Assets $4,403,551 Current Liabilities $829,983 Other Liabilities 521,328 Long-term debt --- Shareholders' Equity 3,052,240 Total Liabilities and Shareholders' Equity $4,403,551 CONTACT: American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Bingo & Gaming Corp., Austin Corky cork·y adj. cork·i·er, cork·i·est 1. Of or resembling cork. 2. Informal Lively; buoyant. cork Logue, 512/472-2041 |
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