We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Scientific Games (SGMS) Q3 Loss Widens, Revenues Beat
Read MoreHide Full Article
Scientific Games Corp. reported third-quarter 2016 loss of $1.13 a share, which was much more than the Zacks Consensus Estimate of a loss of 90 cents. In the prior-year quarter, the company’s adjusted loss per share was 85 cents.
Quarterly Details
The company’s revenues of $720 million were however better than the Zacks Consensus Estimate of $713 million and the prior-year quarter’s revenues of $672 million.
Gaming Segment– Revenues increased 4.5% year over year to $448.2 million. Revenues from gaming operations fell 5.9% year over year to $182.4 million, while machine sales revenues increased 21.8% from the year-ago quarter to $159.8 million. Gaming systems sales declined 3.5% to $57.6 million while table products revenues increased 3.4% to $48.4 million..
Lottery Segment – Revenues decreased 2.5% year over year to $186.6 million. Revenues from Instant games remained flattish year over year at $137.7 million. Product sales surged 21.8% year over year to $10.6 million. However, this was offset by a decline of 14.9% year over year in revenues from Services ($38.3 million).
Interactive Group– Revenues increased 34% year over year to $85.2 million. This was primarily due to a 34.4% year-over-year increase in social gaming revenues.
In the reported quarter, the company’s attributable earnings before interest, taxes, depreciation and amortization (AEBITDA) were $271.6 million. AEBITDA from the gaming segment came in at $209.9 million. The same for Lottery Systems was $77.3 million while that for the Interactive segment was $13.6 million.
Balance Sheet & Cash Flow
Scientific Games exited the quarter with $120.9 million in cash and cash equivalents compared with $128.7 million as on Dec 31, 2015. The company’s long-term debt was $8 billion compared with $8.2 billion as of Dec 31, 2015.
Cash flow from operations was $150.9 million in the quarter, an increase of 7% from the prior-year quarter.
Silicon Motion Technology delivered a positive earnings surprise of 12.85% in the trailing four quarters.
Groupon delivered a positive earnings surprise of 31.07% in the trailing four quarters.
GigPeak delivered a positive earnings surprise of 37.50% on an average in the trailing four quarters.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Scientific Games (SGMS) Q3 Loss Widens, Revenues Beat
Scientific Games Corp. reported third-quarter 2016 loss of $1.13 a share, which was much more than the Zacks Consensus Estimate of a loss of 90 cents. In the prior-year quarter, the company’s adjusted loss per share was 85 cents.
Quarterly Details
The company’s revenues of $720 million were however better than the Zacks Consensus Estimate of $713 million and the prior-year quarter’s revenues of $672 million.
Gaming Segment– Revenues increased 4.5% year over year to $448.2 million. Revenues from gaming operations fell 5.9% year over year to $182.4 million, while machine sales revenues increased 21.8% from the year-ago quarter to $159.8 million. Gaming systems sales declined 3.5% to $57.6 million while table products revenues increased 3.4% to $48.4 million..
Lottery Segment – Revenues decreased 2.5% year over year to $186.6 million. Revenues from Instant games remained flattish year over year at $137.7 million. Product sales surged 21.8% year over year to $10.6 million. However, this was offset by a decline of 14.9% year over year in revenues from Services ($38.3 million).
Interactive Group– Revenues increased 34% year over year to $85.2 million. This was primarily due to a 34.4% year-over-year increase in social gaming revenues.
In the reported quarter, the company’s attributable earnings before interest, taxes, depreciation and amortization (AEBITDA) were $271.6 million. AEBITDA from the gaming segment came in at $209.9 million. The same for Lottery Systems was $77.3 million while that for the Interactive segment was $13.6 million.
Balance Sheet & Cash Flow
Scientific Games exited the quarter with $120.9 million in cash and cash equivalents compared with $128.7 million as on Dec 31, 2015. The company’s long-term debt was $8 billion compared with $8.2 billion as of Dec 31, 2015.
Cash flow from operations was $150.9 million in the quarter, an increase of 7% from the prior-year quarter.
SCIENTIFIC GAME Price and EPS Surprise
SCIENTIFIC GAME Price and EPS Surprise | SCIENTIFIC GAME Quote
Zacks Rank & Stocks to Consider
Currently, Scientific Games has a Zacks Rank #3 (Hold). Better-ranked stocks include Silicon Motion Technology Corp. (SIMO - Free Report) with a Zacks Rank #1 (Strong Buy), and Ambarella and Groupon, Inc. (GRPN - Free Report) with a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Silicon Motion Technology delivered a positive earnings surprise of 12.85% in the trailing four quarters.
Groupon delivered a positive earnings surprise of 31.07% in the trailing four quarters.
GigPeak delivered a positive earnings surprise of 37.50% on an average in the trailing four quarters.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>