Nevada Gold Announces Second Quarter 2013 Financial Results
Michael P. Shaunnessy Joins Company as President and CEO
Adjusted EBITDA Increases Fourfold
HOUSTON, Dec. 12, 2012 (GLOBE NEWSWIRE) -- Nevada Gold & Casinos, Inc. (NYSE MKT:UWN) today announced financial results for the second quarter of fiscal 2013, ended October 31, 2012.
Second Quarter 2013 Financial Highlights
Net revenues increased 28% to $16.4 million.
Adjusted EBITDA(1) from continuing operations increased to $1.3 million from $0.3 million.
Net loss per share from continuing operations, including non-recurring items, was $0.04 compared to $0.15 in the prior-year period.
Michael Shaunnessy, who joined Nevada Gold as President and CEO on December 1, 2012, commented, "With the company's newly streamlined organization, enhanced operations and a focus on practical growth options, I believe we are at an important turning point for Nevada Gold. I am excited about working with the board of directors and employees to optimize the collection of assets the company has amassed and to take advantage of new growth opportunities available in today's market."