Shuffle Master reports higher earnings, revenue in quarter

Shuffle Master, a Las Vegas-based maker of card shufflers and gambling equipment, on Thursday said its first-quarter earnings rose, helped by strong recurring-revenue growth in nearly all product segments.

In a statement, Shuffle Master said it had net income of $4.8 million, or 9 cents per share, for the three months ended Jan. 31, compared with net income of $3.7 million, or 7 cents per share, a year earlier.

The latest results topped the 8-cents-per-share earnings estimate of analysts polled by Yahoo Finance.

Revenue rose 8.7 percent to a first-quarter record $43.8 million from $40.3 million.

The company said it achieved a record lease installed base of 7,344 shufflers in the quarter, a 28 percent increase in units year over year. Shuffle Master said about 410 new leases were recorded in the first quarter.