Q-Zar Inc., the Texas based Irish managed company, has announced net income earnings for the period ending December 31st, of $12.7 million (£8.46 million).
Earnings before interest, taxes, depreciation and amortisation were $21.3 million (£13 million) compared to $11.6 (£7 million) for 1995.
Q-Zar operates a worldwide network of 250 Q-Zar entertainment centres and recently announced plans to link with some of Asia's largest entertainment companies.
The company, formed in 1993, commenced trading on the Toronto Stock Exchange in 1995.
It was established by Mr Tom Butler (37), who worked for the Irish company, Leisure Corp, before buying the Asian and North American gaming rights for the QZar game from Leisure Corp, and moving to the US. Some of his former colleagues in Leisure Corp moved with him.
Speaking after the announcement of the results, Mr Butler, the Q-Zar chairman and CEO.
"1996 was yet another highly successful year for the company and we continue to be encouraged by the incredible growth in the global laser tag market. For 1997 I can realistically see laser tag industry wide sales exceeding $300 million (£188 million)."
