logo
Share SHARE
FONT-SIZE Plus   Neg

SHFL Entertainment Profit Rises, But Misses Estimate - Update

Gaming device maker SHFL entertainment, Inc. (SHFL) 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%.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
10 Worst Places To Raise A Family Whether you are a young couple building a nest or seasoned parents looking for a change of scenery, there are number of places around the country that should be avoided, according to personal finance website WalletHub. They looked at mainly five categories for... A passenger has filed a lawsuit against Canadian budget airline Sunwing Airlines for serving him cheap sparkling wine instead of champagne on board a flight, according to media reports. The Canadian passenger, Daniel MacDuff, reportedly boarded his Sunwing flight to Cuba in February, on a flight package that advertised a complimentary on-board champagne toast. Senate Health Committee Chairman Lamar Alexander, R-Tenn., and ranking member Patty Murray, D-Wash., announced Thursday that twenty-two other Senators are cosponsoring their bipartisan plan to provide short-term stability to Obamacare. The bipartisan bill includes a two-year extension of the cost-sharing...
comments powered by Disqus
Follow RTT