Shuffle Master Earnings: Here’s Why the Stock is Down Now
Shuffle Master Inc. (NASDAQ:SHFL) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.19%.
Shuffle Master Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 14.29% to $0.12 in the quarter versus EPS of $0.14 in the year-earlier quarter.
Revenue: Rose 4.91% to $58.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Shuffle Master Inc. reported adjusted EPS income of $0.12 per share. By that measure, the company missed the mean analyst estimate of $0.12. It missed the average revenue estimate of $59.89 million.
Quoting Management: “The diversity of our product segments among our widespread geographies enabled us to report year-over-year revenue growth despite seasonality in our EGM business in the first quarter, typically our softest of the year,” said Linster Fox, SHFL’s Chief Financial Officer. “We remain committed to investing internally in our team and in our products, expanding our business both internationally and online, and looking for accretive M&A opportunities that are a strategic fit. Our solid balance sheet and consistently strong cash flows affords us the flexibility to pursue these growth initiatives.”
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