With business strong in Australia, Las Vegas-based casino supplier Shuffle Master Inc. today reported record revenue in its second fiscal quarter.
The company earned $7.9 million or 14 cents per share for the three months ended April 30 vs. $7.9 million or 15 cents per share in the year-ago quarter. There were slightly fewer shares outstanding in the 2010 quarter.
Revenue of $59.9 million was up from $50.8 million.
The company makes card shufflers and other casino products including roulette chip sorters, table game action tracking systems, proprietary table games and video slot machines.
Shuffle Master said it achieved a record base of installed leased shufflers – 7,400 – up 22 percent from the year-ago quarter as it focused on leases rather than sales.
With Australia accounting for 41 percent of revenue in the quarter, international revenue accounted for about 59 percent of total revenue.
The share of revenue from the United States fell year-over-year from 49.2 percent to 40.7 percent, while Australia's 41 percent share of revenue was up from last year's 28.9 percent.
Shuffle Master has manufacturing plants in both Las Vegas and Milperra, New South Wales, Australia.
“We continued to strengthen our balance sheet in the second quarter as we further reduced debt by $6 million,” Linster Fox, chief financial officer, said in a statement. “We also continued to build our recurring revenues to a record $26 million, fueled by strong shuffler, premium table game and progressive (system) leases.”
The company said it ended the quarter with $56.8 million in debt.