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Wells-Gardner Electronics Corp.: Wells-Gardner Sells Its 20,000th LCD Replacement Kit

^{Published on 2008-12-03 09:13:01 - Market Wire}
 

CHICAGO, IL--(Marketwire - December 3, 2008) - Wells-Gardner Electronics Corporation (AMEX: [ WGA ]) announced the sale of its 20,000th LCD replacement kit sold directly to casinos in North and South America.

"We are delighted to report the sale of our 20,000th LCD replacement kit which happened on the last business day of November," said Anthony Spier, Wells-Gardner's Chairman and Chief Executive Officer. "This was a business pioneered by Wells-Gardner and its subsidiary American Gaming & Electronics in 2005. This business has generated over $13 million of revenue and $3.25 million of margin since its inception. The business continues to be strong with sales growth in 2008 in this very difficult gaming environment."

"Overall Wells-Gardner has sold approximately 240,000 LCDs since the Company first started marketing LCDs in 2004."

Founded in 1925, Wells-Gardner Electronics Corporation is a distributor and manufacturer of color video monitors and other related distribution products for a variety of markets including, but not limited to, gaming machine manufacturers, casinos, coin-operated video game manufacturers and other display integrators. The Company has the majority of its LCDs and CRT monitors manufactured in Mainland China. In addition, the Company's American Gaming & Electronics, Inc. subsidiary ("AGE"), a leading parts distributor to the gaming markets, sells parts and services to over 700 casinos in North America with offices in Las Vegas, Nevada, Egg Harbor Township, New Jersey, Miami, Florida and McCook, Illinois. AGE also sells refurbished gaming machines on a global basis as well as installs and services some brands of gaming machines in casinos in North America.

This press release contains forward-looking statements within the meaning of the federal securities laws. Those statements include statements regarding the intent, belief or expectations of the Company and its management. Readers are cautioned that the forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, and that actual results could differ materially from those expressed in any forward-looking statement. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, development of competing technologies, availability of adequate credit, interruption or loss of supply from key suppliers, increased competition, the regulatory process and regulatory and legislative changes affecting the gaming industry. Wells-Gardner assumes no obligation to update the information contained in this release to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. For additional investor information, please contact Jim Brace - Wells-Gardner at (708) 290-2120 or Alan Woinski - Gaming USA Corporation at (201) 599-8484.