Sep. 8, 2014, 12:49 PM
Sep. 8, 2014, 9:15 AM
Jul. 30, 2014, 12:46 PM
Apr. 23, 2014, 2:07 PM
- IGT (IGT -10.4%) posted FQ2 EPS that was slightly above the guidance provided in a March 25 warning, and reiterated a forecast for FY14 (ends Sep. '14) EPS of $1-$1.10. But the company also reported gaming product sales (40% of revenue) fell 27% Y/Y to $202.6M, after having grown 4% in FQ1. Machine units recognized fell 45% to 7.9K, a reversal from FQ1's 20% growth.
- Gaming operations revenue fell 9% Y/Y to $230.4M (-8% in FQ1), with IGT's installed base falling 6% to 53.4K and yield declining 5% to $47; weaker MegaJackpots revenue is blamed.
- Interactive revenue rose 20% Y/Y to $79.8M (thanks to a 27% increase in social gaming revenue), but that's a slowdown from FQ1's 41%. DoubleDown's MAUs fell 1% to 6.2M after growing 26% in FQ1, but its bookings per DAU rose 16% to $0.43.
- Peers are also lower: BYI -3.9%. MGAM -2.1%. SGMS -4.1%.
FQ2 results, PR, CC transcript
Jan. 24, 2014, 4:19 PM
- International Game Technology (IGT -14.7%) tumbled to within striking distance of its 52-week low ($14.75) after missing FQ1 estimates and stating it its FY14 (ends Sep. '14) EPS is now "more likely" to be at the low of its prior guidance range of $1.28-$1.38, with "potential further downside risk." The consensus is already at $1.28.
- IGT's gaming ops (41% of revenue) remain under pressure: sales fell 8% Y/Y in FQ1 (lower North American MegaJackpots revenue is blamed) after dropping 6% in FQ4. The division's gross margin fell 200 bps to 61%, and its installed base 4% to 54.3K.
- Product sales (45% of revenue) managed to grow 4% after being flat in FQ4. Gross margin fell 100 bps to 52%. Interactive sales remain an area of strength, growing 41% on the back of 57% social gaming growth. Gross margin rose 500 bps to 63%, and monthly active users for IGT's DoubleDown social casino gaming unit rose 26% to 6.2M.
- IGT says it's "in the process of implementing a number of measures, including cost reductions," in response to its recent challenges.
- Peers Bally Technologies (BYI -5.9%), Multimedia Games (MGAM -3.8%), and Scientific Games (SGMS -8%) also fell sharply on a bad day for equities.
- IGT's CC transcript
Dec. 6, 2013, 5:45 PM
Sep. 9, 2013, 9:40 AM
- Expedia (EXPE +3.2%) has been upgraded to Buy by Lazard.
- Brocade (BRCD +3.2%) has been upgraded to Outperform by RBC.
- NetApp (NTAP +1.1%) has been upgraded to Buy by UBS.
- Micron (MU +1%) has been upgraded to Neutral by Susquehanna.
- LTX-Credence has been upgraded to Buy by Craig-Hallum.
- Open Text (OTEX +1.2%) has been upgraded to Buy by Paradigm Capital.
- Nanometrics (NANO +6.1%) has been upgraded to Overweight by Piper.
- InterActiveCorp (IACI -0.5%) has been cut to Hold by Canaccord.
- Multimedia Games (MGAM -2.2%) has been cut to Neutral by Janney.
Apr. 30, 2013, 12:46 PM
Apr. 30, 2013, 10:58 AM
Shares of Multimedia Games (MGAM +17.4%) soar after the company beats estimates handily with its FQ2 report. Robust demand for games in emerging markets is the main impetus for a healthy lift in guidance from Multimedia Games for FY13 EPS of $0.98-$1.02, from a prior range of $0.79-$0.84.| Apr. 30, 2013, 10:58 AM
Jan. 30, 2013, 12:45 PM
Jan. 30, 2013, 9:10 AM
Jan. 30, 2013, 8:14 AM
Feb. 1, 2012, 1:25 PM
Casino gaming system maker Multimedia Games (MGAM +31.8%) soars to new 52-week highs after reporting FQ1 revenue of $34.8M (+22% Y/Y) and EPS of $0.21, trouncing Street estimates by $3.8M and $0.17. The company attributes the strong results to growing sales of new systems in several states. It's also lifting its FY12 EPS guidance range to $0.42-$0.45, well above a prior range of $0.23-$0.26.| Feb. 1, 2012, 1:25 PM | 1 Comment
Nov. 17, 2011, 2:11 PM
Multimedia Games Holding (MGAM +2%) moves up after its FQ4 results easily beat estimates as gambling-operations revenue grew 10% Y/Y. The company also raises guidance, anticipating higher revenue and net income in FY12.| Nov. 17, 2011, 2:11 PM