CHICAGO, Aug. 29 /PRNewswire-FirstCall/ -- Wells-Gardner Electronics Corporation (AMEX:WGA) announced that they have filed 3 new patents for LCDs.
"The filing of LCD patents is part of our strategy to protect our intellectual property and to increase our value to stockholders as a technology company," said Anthony Spier, Wells-Gardner's Chairman and Chief Executive Officer. "We are focusing on LCDs as this is the fastest growing technology for our Company. Our LCD sales have increased from 3500 in 2004 to 30,100 in 2005 and to a forecast of over 60,000 in 2006." "We are very pleased to be able to report that the Company has filed three new patents for various aspects of LCDs," said Robert Lube, Wells-Gardner's Director of Engineering. "One patent application pertains to display characteristics of LCDs, another pertains to implementing LCDs in gaming consoles, and a third application covers bonding of certain touch screens to LCDs." 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. During 2000, the Company formed a 50/50 joint venture named Wells-Eastern Asia Displays to manufacture video monitors in Malaysia. In addition, the Company acquired American Gaming & Electronics, Inc. ("AGE"), a leading parts distributor to the gaming markets, which sells parts and services to over 700 casinos in North America with offices in Las Vegas, Nevada, Egg Harbor Township, New Jersey and McCook, Illinois. AGE also sells refurbished gaming machines on a global basis as well as installs and services some brands of new 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, our ability to increase production at our Malaysian joint venture and our Chinese LCD sub-contractor, 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. All press releases and SEC filings are available on the Wells-Gardner website accessible on http://www.wellsgardner.com/ by clicking Company and then clicking News. For additional investor information, please contact Jim Brace - Wells Gardner at (708) 290-2120 or Alan Woinski - Gaming Venture Corp., USA at (201) 599-8484. DATASOURCE: Wells-Gardner Electronics Corporation CONTACT: Jim Brace of Wells Gardner, +1-708-290-2120, or Alan Woinski of Gaming Venture Corp., USA, +1-201-599-8484 Web site: http://www.wellsgardner.com/
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