Closure of two discount ticket-booth locations contributed to lower first quarter earnings for Tix Corp., the company reported Thursday.
The Studio City-based seller of discounted show and dinner reservation tickets in Las Vegas reported net income of $237,000 (1 cent a share) for the quarter ended March 31, compared with a net loss of $294,000 (-1 cent) in the same period a year earlier. Revenue fell 10 percent to $5.3 million.
Tix closed a ticket booth in April 2012 and a second one in February of this year due to construction and renovation projects on the Las Vegas strip. The company operates nine kiosks with plans to open additional locations in the third quarter of this year and the second quarter of next year, said Chief Executive Mitch Francis.
“We expect these new locations, coupled with an improvement in consumer spending in Las Vegas, to provide us future revenue growth,” said Francis, in a prepared statement.
Shares lost 7 cents to close at $1.02 in over-the-counter trading.