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News Breaks
February 15, 2012
08:43 EDTWGAWells-Gardner sees FY12 sales $60M-70M vs. $42.9M in FY11
The company sees its Illinois VGT business beginning late 3Q12.
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September 15, 2014
08:35 EDTWGAWells-Gardner Electronics sells assets of LCD business for $8M cash
Wells-Gardner Electronics announced that it has sold the assets of its LCD business to HT Precision Technologies U.S., Inc., a Delaware corporation and wholly owned subsidiary of Taiwan-based HT Precision Technologies. The assets of the LCD business, which includes the "Wells-Gardner" name, were acquired by HTP for approximately $8M in cash, subject to post-closing adjustments. Wells-Gardner Electronics Corporation expects to take a one-time charge of approximately $6.2M, consisting of asset write-offs and transaction-related expenses of a total of $4.4M, and $1.8M of non-cash charges for the write-off of AGE goodwill and the deferred tax asset. Effective upon shareholder approval, Wells-Gardner Electronics Corporation will assume the corporate name of "AG&E Holdings Inc." Management expects that its common stock will continue to trade on the NYSE MKT exchange under the ticker symbol WGA for the foreseeable future.

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