Wednesday, June 9, 2010 | 2:05 p.m.
Las Vegas-based gaming supplier Shuffle Master saw its profit increase by nearly 80 percent during the second quarter of 2010, according to a filing with the Securities and Exchange Commission Wednesday.
The company reported net income of $7.9 million, or 15 cents per share, during the second quarter of 2010, compared to a profit of $4.4 million or 8 cents per share, in the same period of 2009.
Revenue increased by 12 percent to $50.8 million from $45.3 million during the year-over-year period.
"Our second quarter showed strong year-over-year growth due to compelling drivers in our product segments such as gained momentum in our shuffler replacement cycle, the continuation of our progressive upgrade strategy and exceptional performance in our e-Table segment," Chief Executive Phillip Peckman said in today’s earnings release.
Earnings before interest, taxes, depreciation and amortization totaled $18 million for the second quarter, up 33 percent from $13.6 million in the same period of 2009.
Peckman said in today’s report that Singapore emerged as a sizable new market for the gaming supply company during the second quarter of 2010. The company gained $500,000 in new lease revenue as a result, Peckman said.
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