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Multimedia Games plunges on weaker-than-expected guidance

  • Multimedia Games (MGAM -10.3%) shares tank following the company's FQ4 report due to concerns over FY2014 guidance.
  • Management guided for FY2014 revenue of $217M-$223M (vs. consensus of $221.6M) on sales of 3.7K-4K units at an ASP of $16.5K-$17.5K. Investors may be concerned about the bottom end of the ASP forecast, which is below FQ4's adjusted ASP of $17.7K.
  • FY2014 EPS is seen at $1.23-$1.27, below a Street consensus of $1.31.
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