Shuffle Master Down 8.5% Despite Meeting Earnings Expectations
Shuffle Master (NASDAQ: SHFL) is trading lower on the session following its Q2 earnings announcement. The company reported an EPS of $0.20 vs $20 estimates and revenues of $66.1 million vs $65.1 million estimates.
Gavin Isaacs, Chief Executive Officer of Shuffle Master stated,"We delivered our best quarterly revenue to date, driving 21% earnings per share growth, or 43% excluding expenses incurred in connection with the proposed acquisition of Ongame. The second quarter yielded exceptional results from nearly every product category, particularly our Utility and EGM segments, with the MD3 shuffler and the Equinox cabinet driving overall segment performance. Our specialty table games business grew an impressive 13% year-over-year driven almost entirely by recurring revenue."
Shuffle Master is currently trading at $13.04, a loss of $1.21 or 8.49%.
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