Gaming Partners International Corporation
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(Exact name of registrant as specified in its charter)
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Nevada
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0-23588
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88-0310433
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(State or other jurisdiction
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(Commission
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(IRS Employer
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of incorporation)
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File Number)
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Identification No.)
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1700 Industrial Road, Las Vegas, Nevada
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89102
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(Address of principal executive offices)
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(Zip Code)
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(Former name or former address, if changed since last report.)
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Item 2.02
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Results of Operations and Financial Condition.
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Item 9.01
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Financial Statements and Exhibits.
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(d)
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Exhibits.
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Gaming Partners International Corporation
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||
Date: November 10, 2011
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||
By:
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/s/ Gerald W. Koslow
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Gerald W. Koslow
Chief Financial Officer
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||
Exhibit No.
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Description
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Exhibit 99.1
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Press release dated November 10, 2011.
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September 30,
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December 31,
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|||||||
2011
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2010
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|||||||
ASSETS
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||||||||
Current Assets:
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||||||||
Cash and cash equivalents
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$ | 8,521 | $ | 11,400 | ||||
Marketable securities
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16,635 | 18,350 | ||||||
Accounts receivable, net
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5,115 | 6,838 | ||||||
Inventories
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7,973 | 7,160 | ||||||
Prepaid expenses
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1,028 | 790 | ||||||
Deferred income tax asset
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536 | 949 | ||||||
Other current assets
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2,285 | 1,578 | ||||||
Total current assets
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42,093 | 47,065 | ||||||
Property and equipment, net
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11,857 | 11,926 | ||||||
Intangibles, net
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675 | 782 | ||||||
Deferred income tax asset
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1,279 | 1,108 | ||||||
Inventories, non-current
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304 | 496 | ||||||
Other assets, net
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387 | 430 | ||||||
Total assets
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$ | 56,595 | $ | 61,807 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY
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||||||||
Current Liabilities:
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||||||||
Short-term debt
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$ | 17 | $ | 6,696 | ||||
Accounts payable
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2,943 | 3,216 | ||||||
Accrued liabilities
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5,464 | 6,204 | ||||||
Customer deposits and deferred revenue
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3,136 | 3,919 | ||||||
Income taxes payable
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173 | 273 | ||||||
Total current liabilities
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11,733 | 20,308 | ||||||
Long-term debt
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19 | 32 | ||||||
Deferred income tax liability
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564 | 491 | ||||||
Other liabilities
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42 | 41 | ||||||
Total liabilities
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12,358 | 20,872 | ||||||
Commitments and contingencies - see Note 8
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||||||||
Stockholders' Equity:
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||||||||
Preferred stock, authorized 10,000,000 shares, $.01 par value,
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||||||||
none issued or outstanding
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- | - | ||||||
Common stock, authorized 30,000,000 shares, $.01 par value,
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||||||||
8,199,016 issued and outstanding
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82 | 82 | ||||||
Additional paid-in capital
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19,360 | 19,196 | ||||||
Treasury stock, at cost; 8,061 shares
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(196 | ) | (196 | ) | ||||
Retained earnings
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23,383 | 20,269 | ||||||
Accumulated other comprehensive income
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1,608 | 1,584 | ||||||
Total stockholders' equity
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44,237 | 40,935 | ||||||
Total liabilities and stockholders' equity
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$ | 56,595 | $ | 61,807 |
Three Months Ended
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Nine Months Ended
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|||||||||||||||
September 30,
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September 30,
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|||||||||||||||
2011
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2010
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2011
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2010
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|||||||||||||
Revenues
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$ | 13,834 | $ | 12,383 | $ | 46,446 | $ | 43,235 | ||||||||
Cost of revenues
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9,596 | 8,319 | 31,347 | 26,914 | ||||||||||||
Gross profit
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4,238 | 4,064 | 15,099 | 16,321 | ||||||||||||
Marketing and sales
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1,194 | 1,088 | 3,604 | 3,363 | ||||||||||||
General and administrative
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2,587 | 1,899 | 7,432 | 7,336 | ||||||||||||
Operating income
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457 | 1,077 | 4,063 | 5,622 | ||||||||||||
Other income and (expense)
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125 | 75 | 357 | 229 | ||||||||||||
Income before income taxes
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582 | 1,152 | 4,420 | 5,851 | ||||||||||||
Income tax provision
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105 | 391 | 1,306 | 2,387 | ||||||||||||
Net income
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$ | 477 | $ | 761 | $ | 3,114 | $ | 3,464 | ||||||||
Earnings per share:
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||||||||||||||||
Basic
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$ | 0.06 | $ | 0.09 | $ | 0.38 | $ | 0.42 | ||||||||
Diluted
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$ | 0.06 | $ | 0.09 | $ | 0.38 | $ | 0.42 | ||||||||
Weighted-average shares of common stock outstanding:
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||||||||||||||||
Basic
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8,199 | 8,199 | 8,199 | 8,199 | ||||||||||||
Diluted
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8,234 | 8,207 | 8,226 | 8,205 |
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