- SHFL Entertainment (SHFL) FQ3 misses on all fronts, despite a 16% growth in total sales from the same period last year.
- Net profit fell 39% Y/Y as the casino-games company booked charges related to its plan to merge with Bally Technologies (BYI) as well as other expenses.
- Revenue from its leasing and royalties business grew 5.5% to $29.3M,
- Product sales and services reported 24% higher revenue at $73.5M.
- Electronic table systems revenue grew 79% in the latest period, while its utility, electronic gaming machine and proprietary table games businesses also contributed to top-line growth.
- Gross margin narrowed to 60.6% from 63.1%, as total costs and expenses grew 30% to $65.1M.
More on SHFL Entertainment earnings
Sep 6 2013, 19:54 ET