Thursday, March 11, 1999
Lottery's been good for Interlott in '98
BY MIKE BOYER
The Cincinnati Enquirer
Interlott Technologies Inc., the Blue Ash supplier of lottery ticket vending machines, reported record revenues and earnings in 1998.
The company said net income for the year ended Dec. 31 was $1.6 million, or 50 cents a share, vs. $1.5 million, or 45 cents a share, a year earlier.
Revenues increased to $24 million from $19 million in the prior year.
“We have experienced our best year to date, winning new or renewed contracts for our instant-ticket vending machines in seven states, while opening new markets (for the machines) in Denmark and Quebec,” said David F. Nichols, president.
Operating earnings last year were also a record $3.7 million, vs. $3.2 million in the prior year.
In the fourth quarter, Interlott said net income increased to $476,489, or 15 cents a share, vs. $436,710, or 14 cents a share, in the year-ago period.
Revenues for the latest three months were $5.6 million vs. $4.13 million a year ago.
Mr. Nichols said: “We have introduced significant technological innovations to the instant-ticket vending industry. ... These leading-edge technologies are opening up new opportunities and markets for Interlott that will contribute to our continued strong growth.”
The innovations include adoption by several large retailers of Interlott's Modular Vending Platform to increase sales of over-the-counter instant tickets and a new Automated Communications System, which improves instant machine sales reporting.
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