AG&E Holdings Inc. Reports Third Quarter 2017 Financial Results




Hammonton, New Jersey – November 14, 2017— AG&E Holdings Inc. (OTCQB – AGNU), whose wholly-owned subsidiary, American Gaming & Electronics, Inc., is one of the largest supply companies in the gaming industry, announced financial results today for the quarter ended September 30, 2017.

Third Quarter Financial Highlights

  • Revenues were $3.4 million, up $2.1 million from the comparable prior year period
  • Net loss reduced to $(0.4) million, which is $0.2 million less than the prior year
  • Year-to date net loss reduced to $(1.1) million which is $1.1 million less than prior year

Financial Results

Net sales for the third quarter of 2017 totaled $3.4 million compared to $1.3 million in the third quarter of 2016. The increase in revenue of $2.1 million is primarily attributed to the acquisition of Advanced Gaming Associates LLC, or AGA in late 2016. 

For the third quarter, AG&E reported a net loss of $(0.4) million, or $(0.02) per share which included intangible amortization of $54,000 associated with the acquisition of AGA. For the third quarter of 2016 AG&E reported a net loss of $(0.6) million, or $(0.05) per share.  This represents an increase in net income of $0.2 million compared to the comparable quarter in the prior year.

For the nine-month period ended September 30, 2017, AG&E reported revenue of $9.8 million compared to $4.6 million in the same nine-month period of 2016. The increase in revenue of $5.2 million is primarily attributed to the acquisition of AGA in late 2016.

AG&E reported a net loss of $(1.1) million or $(0.07) per share for the nine-months ended September 30, 2017 which included transaction related costs of $50,000 and intangible amortization associated with the acquisition of AGA of $0.2 million. AG&E reported a net loss of $(2.1 million), or $(0.18) per share, which included transaction related costs of $(0.5) million for the nine-month…

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