SciPlay Corporation (SCPL) Misses Q3 EPS by 15c, Revenues Miss

SciPlay Corporation (NASDAQ: SCPL) reported Q3 EPS of $0.09, $0.15 worse than the analyst estimate of $0.24. Revenue for the quarter came in at $116.4 million versus the consensus estimate of $121.73 million.

Third Quarter 2019 Financial Highlights vs. Third Quarter 2018

• Third quarter revenue grew 11% or $11.1 million to $116.4 million, which was more than the market growth rate of 7% according to estimates from Eilers and Krejcik. Mobile revenue of $97.7 million was up 18%. This growth reflects the ongoing popularity of SciPlay\'s core games with particular strength from Jackpot Party® Casino, Bingo Showdown®, 88 Fortunes® and Monopoly Slots.
• Financial outlook for the full year 2019, the company is now expecting revenue in the range of $470 million to $475 million.
• Net income was $25.0 million with a net income margin of 21.5%, up from $9.2 million and 8.7%.
• AEBITDA was $32.0 million, an increase of 35%, and AEBITDA margin was 27.5%, an increase of 500 bps.
• Net cash provided by operating activities was $33.8 million reflecting strong results and includes a $3.0 million payment related to contingent acquisition consideration.
• Cash and cash equivalents increased $30.9 million to $81.3 million from the second quarter 2019.

Josh Wilson, Chief Executive Officer of SciPlay, said, "I'm pleased with the team's hard work and passion that led to above market revenue growth of 11% in the third quarter. We have a number of exciting game updates that will lead to continued growth in our evergreen franchises as we explore opportunities in new geographies, new games and new genres. These will enable us to execute on our mission to become the #1 casual mobile gaming company in the world."

Mike Cody, Chief Financial Officer of SciPlay, added, "Our strong portfolio of games drove growth in revenue, net income, AEBITDA and a significant increase in cash flows from operations in the third quarter. We see a number of avenues to grow the business from increased player interaction in our existing games as well as potential new market opportunities."

For earnings history and earnings-related data on SciPlay Corporation (SCPL) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Star Equity Holdings (STRR) Misses Q2 EPS by 8c
• Algorhythm Holdings (RIME) Tops Q2 EPS by 54c