SHFL Entertainment Q3 Profit Falls, Misses Estimate

(RTTNews) - SHFL entertainment, Inc. (SHFL) reported net income for the third quarter of $6.4 million or $0.11 per share, compared to $10.4 million or $0.18 per share for the year-ago quarter.

Adjusted for one-time expenses of $3.6 million, or $0.05 per share, related to entering into a definitive agreement and plan of merger with Bally Technologies, Inc., adjusted earnings per share for the latest quarter were $0.16.

Total revenue for the third quarter rose 16% to $73.53 million from $63.39 million a year ago, mainly due to a 79% year-over-year increase in Electronic Table Systems revenue.

Analysts polled by Thomson Reuters expected the company to earn $0.21 per share on revenue of $77.57 million for the third quarter. Analysts' estimates typically exclude special items.