International edition
September 18, 2020

Expenses fell 14 % to us$ 36.4 million

Shuffle Master sees higher profit on cost-cutting

(US).- Shuffle Master saw its cost-cutting efforts pay off as the company today reported an 87 % increase in profits for the third quarter. Net income for the Las Vegas-based gaming manufacturer reported a net income of us$ 5.6 million, or 10 cents a share, versus us$ 3 million, or 8 cents a share, during the same quarter of 2008.

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evenue for the quarter fell 9 % from us$ 49.5 million to us$ 45.1 million during the year-over-year period. Expenses fell 14 % to us$ 36.4 million.

“We are continuing to see the real impact on our bottom line of specific cost containment measures initiated earlier this year and are confident that regional expansions, new openings in Asia, increased momentum in the shuffler replacement cycle and the i-Table rollout this fall are all milestones on the path toward future top line improvements as well,” Shuffle Master chief executive Tim Parrott said.

Parrott joined the company this past March following the retirement of Mark Yoseloff. Shuffle Master shares rose 35 cents, or 4.5 %, to us$ 8.04 during after hours trading.

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