May 7, 2001 8:01 PM

Las Vegas-based Paul-Son Gaming Corp. reported a third-quarter loss of $251,000, or 7 cents per share.

The company reported a profit of $118,000, or 3 cents per share, in third quarter 2000.

The company said declining sales of gaming chips were a significant contributor.

Revenue fell 20.6 percent to $5 million for the quarter ended February 28. Revenue was $6.3 million in the same period last year.

In other financial news, Innovative Gaming Corp. of America took a steep plunge in the fourth quarter, losing $730,000, or 6 cents per share, compared to $7 million in net income, or 89 cents per share, in the same period a year earlier.

Sales nearly trebled in the quarter, from $1.1 million to $3 million.

For the year the company posted a net loss of $2.3 million, or 23 cents per share, significantly less than 1999, when the company lost $13.5 million, or $1.80 per share.

Sales for the year rose from $4 million to $8.9 million.