Century Casinos Inc. (Nasdaq: CNTY) reported a net earnings increase of $0.2 million, or 180 percent, for the three months ended March 31 compared with the three months ended March 31, 2010. Net earnings per share increased to $0.02 for the three months from $0.01 for the three months ended March 31, 2010.
Other quarterly financial highlights:
- Net operating revenue increased by $3 million, or 21 percent, compared with the quarter ended March 31, 2010.
- Total operating costs and expenses increased by $2.5 million, or 18 percent, compared with the quarter ended March 31, 2010.
- Total operating costs and expenses increased by $1.1 million at the Century Casino Calgary during the quarter compared with the prior year quarter due to increased marketing expenses.
- Adjusted EBITDA was $2.5 million, a 27 percent increase from the quarter ended March 31, 2010.
As of March 31, 2011, the company had $20.7 million in cash and cash equivalents and $11.2 million in debt obligations on its balance sheet compared with $21.5 million in cash and cash equivalents and $13.5 million in debt obligations at December 31, 2010.
The shares were trading at $3.07, up 3.02 percent with a 52-week range of $1.89 to $3.70.