Breaking News
FONT-SIZE Plus   Neg
Share SHARE

SHFL Entertainment Profit Rises, But Misses Estimate - Update

Gaming device maker SHFL entertainment, Inc. (SHFL: Quote) Monday reported an eleven percent rise in fourth-quarter profit, due mainly to increased revenues across core business segments. However, the company's quarterly earnings missed Street estimates, while revenues topped forecast.

Moving ahead, the company said it is poised for sustainable growth as it benefits from continued MD3 card shuffler placements, global expansion of slot machine business, improved e-Table offerings, among other factors.

SHFL entertainment makes gaming devices, and operates inter-casino linked systems and slot routes. The Las Vegas-based company reported fourth-quarter net income of $10.8 million or $0.19 per share, compared with $9.7 million or $0.18 per share a year ago.

On average, six analysts polled by Thomson Reuters expected earnings of $0.20 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter increased 12 percent to $73.6 million from $65.7 million in the prior year. Analysts expected revenues of $68.48 million for the quarter.

Among segments, Proprietary Table Games revenue jumped 23 percent from last year and Electronic Table Games was up 37 percent. Utility revenue climbed 5 percent and Electronic Gaming Machines 6 percent.

Gross margin for the quarter improved to 63.6 percent from 62.5 percent a year earlier.

Shares of the company closed Monday at $13.25, up 1.38%, on the Nasdaq. In after hours, the stock dropped 0.15%.

Register
To receive FREE breaking news email alerts for SHFL entertainment Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that it swung to a second quarter loss, hurt by higher costs and expenses even as revenue surged 47%. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Kraton Performance Polymers, Inc. (KRA), Wednesday reported second-quarter net income of $11.1 million or $0.33 per share, up from $3.8 million or $0.12 per share last year. Adjusted earnings improved to $0.46 per share from $0.15 per share last year. Revenues for the quarter dropped to $323.8... Organic grocer Whole Foods Market, Inc. said Wednesday after the markets closed that its third quarter profit rose 6.3% from last year, as same-store sales increased 3.9%. The company's quarterly earnings per share also came in above analysts' expectations, but its quarterly sales fell shy of analyst' forecast.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.