MGAM Earnings at:
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TULSA, Okla.--(BUSINESS WIRE)--May 7, 1997--Multimedia Games, Inc. (NASDAQ: MGAM) announced Wednesday a 32 percent increase in revenues for the second quarter ending March 31,1997 to $9.04 million as compared with $6.81 million for the first quarter of 1997 and an 87 percent increase as compared with $4.83 million for the second quarter of 1996.
Second quarter 1997 profits increased to $227,000 or $.04 per share as compared to a loss of $190,000, or $.07 per share for the first quarter of 1997 and a profit of $59,000, or $.01 per share for the second quarter of 1996.
Gordon Graves, chairman and chief executive officer of the company said "MegaMania revenue was slightly lower than anticipated but, equipment sales were higher than projected and MegaBingo satellite game revenues are improving. Overall sales and profits were right on budget for the quarter."
Multimedia Games Inc., through its wholly owned subsidiary, MegaBingo, Inc. has exclusive contracts with over 50 Indian nations to provide linked games that are integrated among multiple halls. Multimedia Games Inc. is the nation's leading provider of linked high-stakes bingo games, electronic based interactive bingo games and associated data processing services and products to the Indian gaming industry.
CONTACT: Multimedia Games Inc.
Gordon Graves, Fred Roll, Clifton Lind, 800/726-2464
REPEATS: New York 212-752-9600 or 800-221-2462; Boston 617-236-4266 or 800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473
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