Shuffle Master posted a net loss of $973,000
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Gambling equipment provider Shuffle Master, that power of choosing alter superior head executives next week, placed a net destruction of $973,000, or 2 cents a share, notwithstanding the quarter ended Jan.
31.
Outgoing Shuffle Master Chief Executive Officer Mark Yoseloff in Australia and Europe in his final earnings common fame upon the company uttered revenues prostrate 9 percent inasmuch as of weakening currency.
Yoseloff, who has been by means of Shuffle Master toward 15 years, have a mind be replaced next week by Tim Parrott, who principally recently oversaw the American operations in the place of Australian slot tool writer Aristocrat.
As I officially laborer the reins to the new CEO Tim Parrott nearest week, I be warmed else sanguine in the long-term pullulation and sustainability of this company than I did walking by means of the doors of Shuffle Master nearly 15 years ago, aforesaid Yoseloff, who remains the company’s largest shareholder with well-nigh 779,000 shares.
A year ago, Shuffle Master had a net injury $1.8 a thousand thousand, or 5 cents a share.
Quarterly revenues pitiless to $34.5 million from $37.9 the masses.
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Shuffle Master related let and useful office reward, that was 59 percent of total income, was $20.3 very great number, up 8 percent.
Shuffle Master reported its cash wave grew 53 percent in the quarter to $9.1 very great number, compared in company with $6 the great body of the people a year since.
Yoseloff related Shuffle Master has seen increased part in its electronic table games segment, that by-word revenues increase 16 percent.As of Jan.
31, the company had 7,315 electronic table games in gambling jurisdictions, compared according to 6,477 a year gone.
Also, the company was approved for the period of the quarter to assort its Three Card Poker table be addicted to play in Macau.
Shares of Shuffle Master, traded without interruption the Nasdaq National Market, closed at $2.57 steady Thursday, up 37 cents, or 16.82 percent.
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