Gaming Partners International is well positioned to achieve success in difficult trading conditions, the company's president and chief executive officer Gerard Charlier said.
For the fourth quarter of 2008, the company reported revenues of $15.7m, which were down 21 per cent compared to revenues of $19.9m for the corresponding period in 2007. Gross profit for the quarter was $5.5m, or 35 per cent of revenues, compared with $6.8m, or 34 per cent of revenues, during the previous year.
Revenues for the year ended December 31, 2008, were up three per cent to $60.5m, while gross profit for the year stood at $19.9m, compared to $17.5m in 2007.
"We are pleased with our fourth quarter and year end results for 2008, especially given the difficult economic environment," said Charlier. "This past year was the company’s second best year in terms of both revenues and net income.
"However, the challenges facing the gaming industry will make 2009 a difficult year, especially in the first quarter. Nonetheless, we are positioning the company to meet the challenges we face and believe we can find success in the marketplace, such as the large orders we announced in January for the City of Dreams casino in Macau and the Newport City casino in Manila."
