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MGT Capital Investments, Inc. Reports Fiscal 2009 Second Quarter Financial Results
Date:8/14/2009

NEW YORK, Aug. 14 /PRNewswire-FirstCall/ -- MGT Capital Investments, Inc. (NYSE AMEX: MGT), a holding company, today reported financial results for the quarter ended June 30, 2009 and provided an update on strategic milestones.

As of June 30, 2009 cash, cash equivalents and marketable securities were $31.0 million compared to $40.2 million at December 31, 2008.

For the quarter ended June 30, 2009, MGT's total revenue was $47,000 compared to $85,000 for the same period last year. The decline in revenue is due to Medicexchange's slow down in medical equipment sales in China and reduced license sales in Medicsight. Total operating expenses for the quarter ended June 30, 2009 were $5.2 million, compared to total operating expenses of $8.6 million in the comparable period of 2008.

For the six months ended June 30, 2009, MGT's total revenue of $121,000 compared to $137,000 for the same period last year. Total operating expenses for the six months ended June 30, 2009 were $21.5 million, compared to total operating expenses of $14.7 million in the comparable period of 2008. This includes a $12.2 million dollar impairment of goodwill relating to Medicsight, in the six months ended June 30, 2009.

Net loss for the quarter ended June 30, 2009 was ($3.8) million, or ($0.12) per basic and diluted share, compared to a net loss of ($5.1) million, or ($0.14) per basic and diluted share, for the same period in 2008.

Net loss for the six months ended June 30, 2009 was ($19.2) million, or ($0.59) per basic and diluted share, compared to a net loss of ($8.9) million, or ($0.23) per basic and diluted share, for the same period in 2008. The increase in net loss for the six months in 2009 includes a $12.2 million dollar impairment of goodwill relating t
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SOURCE MGT Capital Investments, Inc.
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