SOURCE: Wells-Gardner Electronics Corp.

February 27, 2007 08:30 ET

Wells-Gardner Announces Stock Dividend

CHICAGO, IL -- (MARKET WIRE) -- February 27, 2007 -- Wells-Gardner Electronics Corporation (AMEX: WGA) announced that its Board of Directors has declared a five percent (5%) stock dividend payable on or about March 30, 2007 to all Common Stock shareholders of record as of the close of business on March 9, 2007, with an ex-dividend date of March 7, 2007.

"It gives me great pleasure to again announce the payment of a 5% stock dividend," said Anthony Spier, Wells-Gardner's Chairman and Chief Executive Officer. "This is the ninth consecutive year the Company has authorized the issuance of a stock dividend. The Board and I continue to believe that actions such as this will continue to enhance liquidity and interest in our stock and our Company."

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 ("WEA") to manufacture CRT monitors in Malaysia. The Company has the majority of its LCDs manufactured in Mainland China. 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 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, 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.

Contact Information

  • For additional investor information, please contact:

    Jim Brace
    Wells-Gardner
    (708) 290-2120

    Alan Woinski
    Gaming USA Corporation
    (201) 599-8484