Entertainment Gaming Asia Inc., a gaming operator and distributor of gaming machines around the Asia-Pacific region, has just released a report on its fourth-quarter and full-year financial performance.
The company generated a revenue of $8.3 million for the three-month period ended December 31, 2014, posting a 63% rise as compared to the sum of $5.1 million that was generated in the fourth quarter of 2013.
Revenue from gaming operations amounted to $4.1 million for the fourth quarter, down 7% as compared to what was generated in 2013. This was attributed to a decline in the company’s operations in the Philippines and Cambodia.
A total of $4.2 million was generated during the three-month period ended December 31, 2014 from the gaming products Entertainment Gaming Asia distributes around the Asia-Pacific region. By comparison, the sum of $729,000 was posted in 2013. The significant increase was due to two major orders from two casinos in the Philippines.
The company also posted a decrease in earnings before interest, taxes, depreciation, and amortization. EBITDA reached $369,000 in the final quarter of 2014. By comparison, the amount of $739,000 was posted for the same period back in 2013.
Net loss totaled $1.5 million in the three-month period ended December 31, 2014, or $0.04 per share.
As mentioned above, Entertainment Gaming Asia also reported on its full-year financial performance. A consolidated revenue of $22.4 million was generated during 2014, a 4% increase as compared to $21.6 million posted in fiscal year 2013. The slight rise was attributed to higher sales of the company’s gaming products. Yet, its overall expectations were not met, due to the decrease in revenue from gaming operations.
It amounted to $16.4 million, down 9% as compared to $18.1 million generated back in 2013.
A total of $6.0 million was generated out of the products the company provides its customers with. By comparison, the amount of $3.4 million was posted in 2013.
Adjusted EBITDA totaled $5.1 million as compared to $3.4 million for fiscal year 2013.
Net loss of $2.8 million, or $0.09 per share, was reported for the fiscal year ended December 31, 2014.
Clarence Chung, CEO and Chairman of the gaming company, shared with media that the improvement of their operating performance is their top-priority at present. What is more, they are looking for new projects that will secure an increase in the company’s profits.
Under its Dreamworld brand, Entertainment Gaming Asia provides casinos in the Philippines and Cambodia with its gaming machines. Furthermore, it also develops and operates various gambling venues in the Indo-China region. Under its Dolphin brand, it manufactures both RFID and conventional gaming plaques and chips, and provides a wide number of Asian casinos with those.
