Galaxy Gaming Reports Record Second Quarter Results
Quarterly Revenues Increase 9%; EBITDAS Up 13%; Continues Profitability
LAS VEGAS, Aug. 14, 2013 (GLOBE NEWSWIRE) -- Galaxy Gaming, Inc. (OTC:GLXZ), announced today its results for the three and six months ended June 30, 2013. The Las Vegas-based company is the world's second-largest developer, manufacturer and distributor of cutting-edge products for the casino industry, including casino table games such as: Lucky Ladies, Texas Shootout, Emperor's Challenge, Deuces Wild, 21+3, Three Card Poker, Bonus Craps and High Card Flush. Galaxy also develops innovative electronic wagering platforms and systems such as its Bonus Jackpot System, Inter-Casino Jackpot System, MEGA-Share and the TableMAX e-Table gaming system.
Q-2 2013 vs. Q-2 2012
- Revenue of $1,944K increased 9% or $154K from $1,790K.
- EBITDAS of $788K improved 13% or $88K from $700K.
- Net income of $85K increased 37% or $23K from $62K.
Q-2 2013 vs. Q-1 2013
- Revenue of $1,944K increased 3% or $48K from $1,896K.
- EBITDAS of $788K decreased 3% or $25K from $813K.
- Net income of $85K decreased 18% or $19K from $104K.
6 months 2013 vs 6 months 2012
- Revenue of $3,840K increased 12% or $404K from $3,436K.
- EBITDAS of $1,600K increased 28% or $347K from $1,253K.
- Net income of $189K improved from a loss of $110K.
"The significant improvements over last year's year-to-date numbers are a validation of our strategic approach," announced Robert Saucier, Galaxy Gaming's CEO. "In a difficult environment and uncertain economic times, we continue to grow, lead and innovate. Quite simply, Galaxy is unique in the gaming space. We're large enough to have an international footprint and nimble enough to adapt to industry change and market conditions," Saucier added.
Gary A. Vecchiarelli, Galaxy's CFO stated, "This marks the eighth consecutive quarter we have seen growth in our recurring revenues. Our revenue growth, coupled with our high margins, has translated into five consecutive profitable quarters. While these numbers are exciting, what really has our team enthusiastic is the products and projects in our pipeline. We are focused on the continued execution of our strategy and further increasing our market share."
The Company will host an investor conference call to discuss its financial and operating results.
|When: Thursday, August 15th, at 1:00pm Pacific Time (4:00pm Eastern)|
|US/Canada: (888) 505-4375|
|International: (719) 325-2454|
|Conference ID: 8670860|
|Web Presentation: www.galaxygaming.com/investor-relations|
About Galaxy Gaming
Headquartered in Las Vegas, Galaxy Gaming (www.galaxygaming.com) is the world's second largest developer, manufacturer and distributor of casino table games including Lucky Ladies, Texas Shootout, Emperor's Challenge, Deuces Wild, 21+3, Three Card Poker, Bonus Craps and High Card Flush. Galaxy also develops innovative electronic wagering platforms and systems such as its Bonus Jackpot System, its Inter-Casino Jackpot System, MEGA-Share and the TableMAX e-Table Gaming System. Galaxy Gaming distributes its products to casinos worldwide.
CONTACT: Jonathan Wilcox (702) 939-3254
Released August 14, 2013