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Equipment supplier’s earnings increase

Thursday, Dec. 13, 2001 | 10:01 a.m.

Shuffle Master Inc. of Las Vegas on Wednesday reported a 12 percent increase in net income for the quarter ending Oct. 31, as higher slot, table game and shuffler lease revenues drove earnings higher.

Shuffle Master, a supplier of gaming equipment, reported net income of $2.8 million, or 15 cents per diluted share, on revenue of $11.8 million. In the year-ago period, the company earned $2.5 million, or 14 cents per share, on revenues of $11.5 million.

Three of Shuffle Master's four business lines showed increases during the quarter. Shuffler lease revenue rose 7 percent to $4 million, table game revenue increased 27 percent to $4.1 million, and slot revenue shot up 63 percent to $1.6 million. These gains, however, were partially offset by shuffler sales and service revenues, which declined 27 percent to $2.8 million.

Shuffle Master blamed the decline on "business conditions for certain customers."

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