Search News Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Related Links

IA Global Increases Revenue Guidance

14 December 2004

BURLINGAME, California – (PRESS RELEASE) -- IA Global Inc. (Amex: IAO) announced that projected revenues would be $9,500,000-$10,200,000 for the 4th quarter of 2004 at current exchange rates and $29,000,000 -- $30,000,000 for the full year 2004. Previous guidance released in our November 1, 2004 earnings press release was $8,500,000 to $10,000,000 for the 4th quarter of 2004.

The company's CEO, Alan Margerison, said, "We are pleased to announce our increased revenue guidance for the 4th quarter of 2004 and for full year 2004. Rex Tokyo had a stronger than expected quarter due to the performance of two new sales offices, the sale of slot machines directly rather than as an agent and the sale of Tesco lighting systems by Timothy World. In addition, we were favorably impacted by the average exchange rate during the quarter. Timothy World was organized a month later than projected, but is expected to record revenue of approximately $800,000 during the quarter."

Historically, Rex Tokyo has sold slot machines primarily as a manufacturer's agent and recognized commissions received as miscellaneous income. Rex Tokyo has recently begun to purchase slot machines from manufacturers and re-sell them as a distributor. For purchased machines, Rex Tokyo recognizes the full sale price of the machine into revenue and the cost of the machine into cost of goods sold.

The quarter ending December 31 is typically Rex Tokyo's highest revenue quarter due to increased new store openings in Japan. We expect to release our results for the year ended December 31, 2004, 2004 in late February, 2005.

< Gaming News