GameTech International Inc.
reported a loss of $15,000 on revenues of $12.6 million in the quarter ended Jan.
31.
This compares with earnings of $522,000 on revenues of $13.2 million a year earlier.
Clarence Thiesen, chief executive officer of the Reno-based maker of electronic bingo equipment, said the company's markets have become increasingly competitive.
That, he said, has eroded prices.
At the same time, Thiesen said, the company's costs rose by about $240,000 as it increased staff in its customer-support area.
Litigation expenses also remain high, the GameTech CEO said.
He said GameTech continues to work on a new portable product dubbed the "Traveler." GameTech will continue testing of the "Traveler" during the current quarter, Thiesen said.
The company didn't say when the product might be ready for general distribution.
Separately, GameTech said it won a lawsuit against a former distributor in federal district court in Arizona.
A jury awarded GameTech $1.42 million in compensatory damages and $150,000 in punitive damages in its action against Trend Gaming LLC and its manager, Steven Hieronymus.Trend was a GameTech distributor in Kentucky and Virginia.
GameTech said the defendants interfered with its relationship with customers.
The company said it now will ask the court to recover its legal costs from Trend Gaming and Hieronymus.
