Gaming Partners International Corp. (GPIC) filed Quarterly Report for the period ended 2012-06-30.

Gaming Partners International Corp. has a market cap of $48.8 million; its shares were traded at around $5.94 with a P/E ratio of 15 and P/S ratio of 0.8.

Highlight of Business Operations:For the second quarter of 2012, our revenues were $13.0 million, a decrease of $1.8 million, or 11.9%, compared to revenues of $14.8 million for the same period of 2011. For the second quarter of 2012, our net income was $1.8 million, an increase of $0.9 million, or 99.3%, compared to net income of $0.9 million for the same period of 2011.

For the first six months of 2012, our revenues were $28.5 million, a decrease of $4.2 million, or 12.7%, compared to revenues of $32.6 million for the same period of 2011. For the first six months of 2012, our net income was $3.1 million, an increase of $0.5 million, or 16.9%, compared to net income of $2.6 million for the same period of 2011.

Gross Profit. For the three months ended June 30, 2012, gross profit was $4.7 million, a decrease of $0.1 million, or 1.2%, compared to gross profit of $4.8 million for the same period of 2011. As a percentage of revenues, our gross profit increased from 32.4% to 36.4%. This gross profit percentage increase was primarily due to a shift in sales mix toward higher-margin Paulson chips to casinos in the United States in the second quarter of 2012. This increase was partially offset by a decrease in sales of European-style casino chips to Asia Pacific casinos in the second quarter of 2012, compared to the same period in 2011, which caused fixed manufacturing costs to be allocated over lower production volumes in these products.

For the three months ended June 30, 2012, selling, general, and administrative expenses were $3.0 million, a decrease of $0.7 million, or 19.5%, compared to selling, general, and administrative expenses of $3.7 million during the same period of 2011. Selling, general, and administrative expenses decreased as a percent of revenue to 22.8% in the three months ended June 30, 2012, from 25.0% during the same period of 2011.

For the six months ended June 30, 2012, selling, general, and administrative expenses were $6.7 million, a decrease of $0.8 million, or 11.6%, compared to selling, general, and administrative expenses of $7.5 million during the same period of 2011. Selling, general, and administrative expenses increased as a percent of revenue to 23.4% in the six months ended June 30, 2012, from 23.1% during the same period in 2011.

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