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US based gaming firm SHFL Entertainment (formerly known as Shufflemaster) has released its latest quarterly numbers, showing a 17% increase in quarterly revenues when compared with the same period a year ago.
Key financial indicators for the period ending April 30th were:
Revenues of $77.4 million for the quarter.
Utility, Electronic Gaming Machine ("EGM"), and Proprietary Table Games ("PTG") businesses all saw double-digit growth over the same period last year.
Recurring revenue grew 8% year-over-year to $31.2 million. A $1.2 million increase in PTG recurring revenue accounted for over half of recurring revenue growth.
Net income increased 22% year-over-year to a record $11.8 million.
Commenting on his company's performance SHFL Chief Financial Officer said, "Our diverse businesses continue to deliver solid financial results. We are confident that keeping our IP-rich businesses well-capitalized has been, and will continue to be, our most important use of cash. However, given our balance sheet's current strong position, we will continue to look at the best way to manage a balance between investing in our business and capital allocation."