UPDATE 1-Shuffle Master Q3 profit rises

martes 9 de septiembre de 2008 23:33 CEST
 

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Sept 9 (Reuters) - Casino-game maker Shuffle Master Inc SHFL.O posted a 10 percent rise in quarterly profit, helped by a 23 percent jump in total lease and service revenue.

The company, which provides casinos with card shufflers, video slot machines and other products and services, posted third-quarter net income of $3.0 million, or 8 cents a share, up from $2.7 million, or 8 cents a share, a year earlier.

Earnings for the quarter ended July 31 were hurt by about 3 cents a share as a result of an impairment charge and the settlement of a distributor lawsuit, the company said.

Total revenue for the company, whose products also include roulette chip sorters and electronic table games, rose 10 percent to $49.5 million.

Analysts on average expected a profit of 10 cents a share, before exceptional items, on revenue of $47.9 million, according to Reuters Estimates.

The company, which competes with Elixir Gaming Technologies Inc EGT.A, Bally Technologies Inc BYI.N and International Game Technology (IGT.N: Cotización), said total lease and service revenue stood at $20.3 million.

Revenue at the company's utility segment rose 6 percent, while the proprietary table games segment revenue increased 9 percent. Electronic gaming machines segment revenue jumped 25 percent.

Shares of the Las Vegas-based company closed at $5 Tuesday on Nasdaq. (Reporting by Dilipp S. Nag in Bangalore; Editing by Deepak Kannan)