Pre-tax income fell 64%
Galaxy Gaming posts mixed results in Q1
Revenue in the first quarter came in at USD 3.5M, up 16% on the amount generated in the corresponding period last year. However, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 2%.
2017-05-22
Reading time 35 seg
Revenue in the first quarter came in at USD 3.5M, up 16% on the amount generated in the corresponding period last year. However, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 2%.
Robert Saucier, chief executive of Galaxy, was mainly positive about the firm’s performance in the first quarter, citing the positive impact of recent investments.
“Our top line continues to show solid growth from the recent investments we have made in our business,” Saucier said.
“In the first half of 2017, we are continuing to make those investments and at an accelerated rate.
“In the short term, those investments will negatively affect our profits; however, we have never been interested in short-term results and instead we believe these investments are necessary to sustain our longer-term growth objectives.”
Galaxy noted that it has compared the Q1 2017 results with the restated figures for the same period last year.
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