Las Vegas manufacturer to exceed expectations

Friday, Feb. 7, 2003 | 10:03 a.m.

Shuffle Master Inc. said Thursday it expects to exceed its earlier guidance for the fiscal first quarter ended January and remains comfortable with its previous guidance for the full year.

The Las Vegas company had projected year-over-year earnings comparisons to rise 20 percent to 25 percent in each of the four quarters. This would suggest earnings of at least 17 cents to 18 cents a share for the first quarter, based on earnings of 14 cents a share in the year-ago period.

A Thomson First Call survey of four analysts produced a mean first-quarter earnings estimate of 17 cents a share.

During Shuffle Master's fourth-quarter conference call held on Dec. 12, the gaming supply company expressed its confidence with full fiscal year 2003 earnings estimates of 91 cents to 95 cents a share.

This estimate brackets Wall Street's projection of 93 cents a share.

For the year ended Oct. 31, the company earned $14 million, or 77 cents a share, on revenue of $56.1 million.