Players Reports 56% Drop in Quarterly Profit
Players International Inc. in Calabasas said its fiscal third-quarter profit fell 56% from a year earlier on a 15% decline in revenue.
Players, which provides gaming- and travel-related services, said its net income in the quarter ended Dec. 31 fell to $79,000 from $179,000, while its revenue dropped to $5.11 million from $6.03 million.
“The recession continued to impact our results,†Players’ Vice Chairman David Fishman said, adding that the revenue decline also reflected the discontinuance of certain promotions held the previous year. For the first nine months of its fiscal year, Players lost $3.57 million on revenue of $17.6 million, contrasted with earnings of $610,000 on revenue of $14.8 million a year earlier.
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