GameTech net flat for quarter

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Earnings and sales at Reno-based GameTech International were flat during the quarter ending April 30.

The maker of electronic bingo systems said it earned $1.2 million on revenues of $13.4 million compared with earnings of $1.2 million on revenues of $12.5 million a year earlier.

Even so, the quarter's numbers began to show the effects of GameTech's acquisition of Summit Amusement & Distributing Ltd., said Jay Meilstrup, the president and chief executive officer of GameTech.

The Montana-based company makes video lottery terminals. GameTech completed its acquisition of Summit during the just-completed quarter, and some of its revenue was reflected in the quarterly numbers.

Meilstrup said the revenues also were boosted by improved results in Michigan, Louisiana, Oklahoma and the United Kingdom. On the other hand, he said GameTech lost some U.S. accounts.

The company's focus in the rest of this year, Meilstrup said, will include development of wireless products for the newly developing mobile gaming market.

GameTech's stock, which has traded as high as $14.20 a share on the NASDAQ system in the past year, was at $9.35 last week.

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