Monarch Casino & Resort Reports Record Results - 2004-02-18
Monarch Casino & Resort, Inc. today revealed record net income, earnings per share, casino revenues, net revenues and EBITDA for the fourth quarter and fiscal year ended December 31, 2003. For the fourth quarter ended December 31, 2003, net income improved 36.4% over the fourth quarter ended December 31, 2002, increasing from $1,298,636, or $0.14 per diluted share, to $1,771,073, or $0.19 per diluted share. This fourth quarter improvement was mainly due to a 26.0% reduction in interest and stockholder guarantee fee expenses over last year's fourth quarter due to reduced debt outstanding and lower applicable interest rates, and to a lesser increase in operating expenses relative to the increase in revenues.
Read the full story at Casino City Times 
