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
Chipmaker Qualcomm is reportedly in talks with NXP Semiconductor NV (NXPI) for a possible acquisition, reports said. According to Bloomberg, negotiations are on with a probable price of $110 t $120 per NXP share. The deal would value NXP at around $34.7 billion. Regulators have confirmed the eleventh U.S. fatality linked to Takata Corp.'s defective air bag inflators. The National Highway Traffic Safety Administration or NHTSA said Thursday that a crash fatality in Riverside County, California, was tied to the rupture of a recalled Takata air bag inflator. Reynolds American Inc. (RAI) on Friday confirmed that British American Tobacco plc (BATS.L, BTI) has offered to buy the remaining 57.8 percent stake that it does not own in the US tobacco company for $47 billion. Reynolds said its board of directors will evaluate the offer, and respond accordingly to BAT, which currently owns 42.2 percent stake in Reynolds. The proposal represents an enterprise va
comments powered by Disqus
Follow RTT