Progressive Gaming International Corp. (NASDAQ: PGIC) reported a net loss of $8.8 million, or $.26 per share, for the quarter ended March 31.
This loss includes additional charges totaling approximately $5.5 million, or $.16 per share, for stock-compensation expense, incremental audit costs, legal and compliance fees to accelerate product approvals and higher spending for human capital and other strategic initiatives. This compares to a net income of $.4 million, or $.02 per share in the same period in 2005.
Revenues for the first quarter of 2006 were $16.9 million, and reflected positive trends in the system business.
However, revenues were $3 million lower than anticipated as a result of the timing of regulatory approvals for new products, including CasinoLink Jackpot Systems, a multi-site jackpot and mystery bonusing system; and the continued deferral of revenues for certain contracts as required by applicable accounting rules.
Civil engineer hired by consulting firm
Mike Leake has been hired as a civil engineer by CFA, Inc., a multidisciplinary consulting firm specializing in planning, civil engineering, landscape architecture, and surveying.
He will assist project managers and professional engineers in the preparation of civil design plans. Prior to joining CFA, Leake was a project engineer with Granite Construction Co. He is a University of Idaho graduate and an Idaho native.
RTC INTERCITY, Sierra Spirit to offer free WiFi
The Regional Transportation Commission's INTERCITY Reno-to-Carson-City commuter service is now a free WiFi "hot spot" for accessing wireless Internet.
Riders can now board RTC INTERCITY and use their portable Internet-access devices and check e-mail, shop online, and surf the Web. Bandwidth for the WiFi is estimated to be similar to a DSL line, with coverage along the entire INTERCITY route.
Passengers are encouraged to e-mail their experiences to RTC at email@example.com. RTC Sierra Spirit, the free downtown Reno circulator, also has free Internet access for passengers.
Sous chef receives culinary designation
Joseph B. Grant, of Carson City, has earned the certified executive chef designation from the American Culinary Federation.
Grant is a sous chef at the Carson Valley Inn in Minden and a member of the ACF High Sierra Chefs Association.
J.C.'s Xpress moves to new facility outside Sparks
J.C.'s Xpress has moved its trucking operation to a 10,000-square-foot facility in Storey County's Tahoe Reno Industrial Center, 10 miles east of Sparks on Interstate 80. The family-run business outgrew its operations base in Sparks.
Carson City native receives PR award
Bruce Pozzi, a Carson City native, is the recipient of the Silver Anvil Award of Excellence sponsored by the Public Relations Society of America.
The award recognizes outstanding strategic public relations planning and implementation. It was presented to him during the Silver Anvil Awards Evening held June 8 in New York City.
Bruce Pozzi Public Relations, Inc., based out of Anchorage, Alaska, received the award for its "Improving the Image of Construction Work in Alaska" campaign for the Associated General Contractors of Alaska/Construction Industry Progress Fund in the Brand/Reputation Management category.
Sharon Stride promoted to senior loan agent
MTM Capital Services has announced that Sharon Stride, a loan agent in its Minden office, is now the senior loan agent in its Dayton office.
She has more than 35 years of lending and management experience in the financial industry and four years of mortgage lending experience with MTM.