Scientific Games (SGMS) Misses Q3 EPS Views

Scientific Games (NASDAQ: SGMS) reported Q3 EPS of ($7.88), $6.79 worse than the analyst estimate of ($1.09). Revenue for the quarter came in at $671.6 million versus the consensus estimate of $703.23 million.

Gavin Isaacs, Scientific Games' President and Chief Executive Officer, said, "With an expanding portfolio of innovative new products, systems and services ahead of us, and the heavy lifting of integration mostly behind us, our team successfully accomplished in just eight months what we had originally expected to achieve in a year. The combined power of our talented people, innovation-focused culture and multiple brands was clearly demonstrated at the recent Global Gaming Expo ("G2E™") and National Association of State and Provincial Lotteries ("NASPL") trade shows. At both events, customer feedback to our latest innovative solutions was highly favorable. We have clearly established a solid foundation built on the most extensive portfolio of leading brands and products – including a diverse revenue base that is more than 60% recurring in nature – targeted at generating consistent long-term profitable growth."

"The benefit from having accelerated our integration activities yielded savings that contributed to the 850 basis point increase in AEBITDA margin over the prior-year period, and enabled us to pay down $73 million of debt in the third quarter, bringing total debt payments for the first nine months of 2015 to $109 million. With the integration largely complete, a deep portfolio of innovative solutions across our businesses and the scale to provide high levels of customer service, our strategic priorities remain focused on leveraging our capabilities to support customers' growth while improving our operating metrics," Mr. Isaacs concluded.

For earnings history and earnings-related data on Scientific Games (SGMS) click here.

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