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VIDEO LOTTERY TECHNOLOGIES REPORTS RECORD REVENUES AND NET INCOME FOR THE SECOND QUARTER, FIRST HALF OF 1992

 VIDEO LOTTERY TECHNOLOGIES REPORTS RECORD REVENUES AND
 NET INCOME FOR THE SECOND QUARTER, FIRST HALF OF 1992
 BOZEMAN, Mont., July 28 /PRNewswire/ -- Video Lottery Technologies, Inc. (NASDAQ-NMS: VLTS), a leading operator of on-line lottery systems and manufacturer of video lottery terminals, today reported record revenues and net income for the second quarter and six months revenues for the period ended June 30, 1992.
 Revenues for the second quarter increased 208 percent to $24,438,000 from $7,941,000 in the same quarter of 1991. Net income for the second quarter increased to $2,874,000 or $0.28 per share, from $732,500 or $0.10 per share in the prior-year period. Average common shares outstanding were 10,443,000 in the second quarter of 1992 compared to 7,117,800 in last year's period.
 The increase of both revenues and net income resulted from strong shipments in the new Louisiana market, additional sales in the Victoria, Australia jurisdiction, a full quarter of Oregon revenue and continued contributions from established video lottery markets.
 For the six-month period, revenues increased 100 percent to $34,542,000 from $17,257,000 in the prior-year period. Net income of $4,103,800, or $0.40 per share, was more than double the $2,031,800 level of 1991. Average common shares outstanding were 10,352,900 in the six months ended June 30, 1992 and 7,117,800 in the same period of 1991.
 The company's video lottery subsidiary contributed $19,301,000 of revenues in the second quarter. Route operations contributed revenues of $3,080,000 in the second quarter. The new subsidiary, Automated Wagering International, Inc., contributed $2,057,000 of revenue during the short period in June after the closing.
 On June 23, 1992, the company's second equity offering was completed, as was the acquisition of Automated Wagering International, Inc.
 VIDEO LOTTERY TECHNOLOGIES, INC.
 (In 000s except per share amounts)
 Periods ended Three months Six months
 June 30: 1992 1991 1992 1991
 Total revenue $24,438 $7,941 $34,542 $17,257
 Net income 2,874 733 4,104 2,032
 Net income per share $0.28 $0.10 $0.40 $0.21
 Weighted average
 common shares
 outstanding 10,443 7,118 10,353 7,118
 Video Lottery Technologies, Inc., through its principal subsidiaries, Video Lottery Consultants, Inc. and Automated Wagering International, Inc., is the leading manufacturer of video lottery terminals and is one of the principal operators of systems software and related services for the on-line lottery and video lottery markets. Presently, the company's on-line lottery and video lottery terminals and systems are in operation in Western Europe, Australia, Canada, and the United States.
 For more information on Video Lottery Technologies, Inc. via facsimile at no cost, simply dial 800-PRO-INFO and enter company code number 165.
 -0- 7/28/92
 /CONTACT: Damian J. Greco of Video Lottery Technologies, 406-586-4423; or Michael Rosenbaum or Audrey Lowe of the Financial Relations Board, 312-266-7800, for Video Lottery/
 (VLTS) CO: Video Lottery Technologies Inc. ST: Montana IN: CNO SU: ERN


TS -- NY041 -- 4012 07/28/92 10:57 EDT
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Publication:PR Newswire
Date:Jul 28, 1992
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