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Gaming Guru

Howard Stutz

Revenues, profits rise for SHFL Entertainment

18 December 2012

LAS VEGAS -- SHFL Entertainment grew revenues and profits over the fourth quarter and all of fiscal 2012 and the gaming equipment supplier awarded its chief executive with a contract extension.

Las Vegas-based SHFL, formerly known as Shuffle Master, announced Monday revenue grew 12 percent to $73.6 million in the quarter that ended Oct. 31.

Net income for the quarter increased 11 percent to $10.8 million while earnings per share grew 6 percent to 19 cents per share, according to the company.

For the full fiscal year, SHFL's revenue increased 14 percent to $259 million, net income grew to $38.6 million, compared with $31.6 million a year ago, while earnings per share jumped to 68 cents per share, compared with 57 cents in fiscal 2011.

"All but one of our product categories witnessed double digit revenue growth; that's impressive in any environment, and especially in this one," SHFL CEO Gavin Isaacs said in a statement.

Last week, SHFL extended Isaacs' employment agreement to April 2016 .

According to a filing with the U.S. Securities and Exchange Commission, Isaacs' annual base salary was increased to $650,000 per year.

In a separate announcement, SHFL announced it was selected to be the exclusive supplier of Amaya Gaming Group's gaming platform and the Ongame poker platform in the U.S. for a 10-year period.

Shares of SHFL, which are traded on the Nasdaq Global Select, closed at $13.29 Monday, up 22 cents or 1.68 percent.