SHFL : SHUFFLE MASTER (NASDAQ
Shuffle Master Announces Record 3rd Fiscal Quarter 2001 Results; Revenues Total $12.6 Million
Earnings Per Diluted Share Equal $.17
LAS VEGAS, Aug 23, 2001 (BUSINESS WIRE) -- Shuffle Master, Inc. (Nasdaq: SHFL chart, msgs) announced today that results for the Company's third fiscal quarter ended July 31, 2001, were $12.6 million in revenues, $3.2 million in net income and earnings per diluted share of $.17, all of which represent record results. The Company reported strong results in shuffler and table game revenue compared to the same period a year ago. Slot revenue also showed solid improvement and included $1.0 million received from IGT under certain provisions of the two companies' fiscal 2000 game development agreements.
For the three months ended July 31, 2001, the Company's revenue of $12.6 million increased 37% over the $9.2 million of revenue for the same period one year ago. Operating income increased 46% to $4.6 million, compared to $3.1 million a year ago, and net income for the quarter increased 58% to $3.2 million, or $0.17 per diluted share, compared to $2.0 million, or $0.12 per diluted share, for the third fiscal quarter of 2000. Earnings per diluted share increased 44%.
For the nine months ended July 31, 2001, revenue totaled $36.1 million, operating earnings were $12.9 million and net income was $8.8 million, or $0.48 per diluted share, compared to $27.3 million, $9.2 million and $6.0 million, or $0.35 per diluted share, for the same items in the first nine months of fiscal 2000.
Share and earnings per share figures reported in this release have been adjusted to reflect both of the Company's three-for-two stock splits during fiscal 2001, with the first split effective on November 30, 2000, and the second on June 18, 2001. Share and earnings per share figures also reflect the dilutive effect of the outstanding options based on increases in the Company's share price during fiscal 2001 |
