Tuesday May 10,2016 : GIG REPORT ROBUST RESULTS
Narrows EBITDA losses.
Gaming Innovation Group (GIG) delivered a robust first quarter 2016 report reflecting a strong period of expansion through its acquisition strategy.
Key performance indicators for the three month period ending March 31, 2016 include:
– Revenues of Euro 7.9 million (Q4/2015: Euro 6.4 million), up 24 percent.
– Gross margin of 84 percent (Q4/2015: 80 percent).
– Negative EBITDA of Euro (0.07) million (Q4/2015: Euro (1.76) million.
The company said its solid platform for growth fosters an optimistic view of developments for the remainder of the year leading it to maintain its expectation of a 100 percent increase in revenue during 2016 along with an expected operating profit exceeding Euro 5 million.