Founded in 1925, Wells-Gardner Electronics Corporation is a distributor and manufacturer of color video monitors and other related distribution products for a variety of markets including, but not limited to, gaming machine manufacturers, casinos, coin-operated video game manufacturers and other display integrators. The Company has most of its LCDs monitors manufactured in Mainland China. In addition, the Company's American Gaming & Electronics, Inc. subsidiary ("AGE"), a leading parts distributor to the gaming markets, sells parts and services to over 700 casinos in North America with offices in Nevada, New Jersey, Florida and Illinois.
Outlook from November 2011 quarterly PR:
"The Company is currently estimating that the Illinois Video Gaming Terminal business will begin in the third quarter 2012. We expect that sales for the full year 2011 will be in the range of $43 to $45 million, compared to $45.7 million in 2010, as the worldwide gaming slot machine market remains sluggish. Fourth quarter sales are expected to increase from prior year sales of $7.7 million by between 20 and 40 per cent however earnings will continue to be affected by spending for the Illinois VGT market without 2011 revenue. We expect Company sales will be in the range of $60 to $70 million in 2012 as the Illinois Video Gaming business gets started. We will continue to aggressively control costs, inventory levels and interest expenses."
|Shares Outstanding5: ||11.60M |
|Float: ||10.22M |
|% Held by Insiders1: ||9.50% |
|% Held by Institutions1: ||11.10% |
|Market Cap: ||24.36M |
|P/E (ttm): ||233.33 |
|EPS (ttm): ||0.01 |
Chicago, Illinois, January 4, 2012 ---- Wells-Gardner Electronics Corporation (NYSE Amex: WGA) announces that the Illinois Video Gaming Terminal (VGT) central communications system contract has been awarded and signed by the Illinois Gaming Board following a competitive procurement process. Wells Gardner`s wholly owned subsidiary American Gaming & Electronics (AG&E) is a distributor for the VGT business in Illinois.