PR Newswire
LAS VEGAS, April 27, 2017
LAS VEGAS, April 27, 2017 /PRNewswire/ --Scientific Games Corporation (NASDAQ: SGMS) ("Scientific Games" or the "Company"), today reported results for the first quarter ended March 31, 2017.
"Our continued steady improvement in revenue and margin are a direct result of our focus on creating innovative products that drive demand and our commitment to operational excellence," said Kevin Sheehan, Chief Executive Officer of Scientific Games. "This is a great start to the year, with all three of our business segments contributing to growth. We have a tremendous global team firmly focused on unlocking the power of our brands, strengthening our commitment to innovation, and executing a disciplined fiscal approach to enhance long-term shareholder value. We are building for our future."
Michael Quartieri, Chief Financial Officer of Scientific Games, added, "All across our global businesses, we are improving our operational excellence that parlays our strength in innovation to drive enhanced financial results and stronger cash flow. We expect these initiatives will drive profitable growth and increased cash flow that will provide further opportunities to deleverage in 2017 and beyond."
SUMMARY CONSOLIDATED RESULTS | |||||
($ in millions, except per share amounts) | March 31, | ||||
| 2017 | | 2016 | ||
Revenue | $ | 725.4 | | $ | 682.0 |
Operating income | 88.0 | | 50.3 | ||
Net loss before income taxes | (84.1) | | (111.5) | ||
Net loss(2) | (100.8) | | ( 92.3) | ||
Net cash provided by operating activities | 111.0 | | 101.1 | ||
Capital expenditures | 61.3 | | 51.2 | ||
Increase in cash and cash equivalents | 16.8 | | 17.0 | ||
| | | | ||
Non-GAAP Financial Measures(1): | | | | ||
AEBITDA | $ | 286.6 | | $ | 258.8 |
AEBITDA margin | 39.5% | | 37.9% | ||
Free cash flow | $ | 41.2 | | $ | 41.8 |
| | | | ||
| As of Mar. 31, | | As of Dec. 31, | ||
Balance Sheet Measures: | 2017 | | 2016 | ||
Cash and cash equivalents | $ | 131.9 | | $ | 115.1 |
Principal face value of debt outstanding | 8,188.8 | | 8,235.3 | ||
Available liquidity | $ | 657.7 | | $ | 631.6 |
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(1) The financial measures "AEBITDA", "AEBITDA margin", "free cash flow", and "EBITDA from equity investments" (disclosed in a table below) are | |||||
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(2) The 2017 first quarter includes a $29.7 million loss on extinguishment and modification of debt associated with the refinancing transactions, |
GAMING SEGMENT HIGHLIGHTS FOR THE THREE MONTHS ENDED MARCH 31, 2017 | |||||||||||||||
GAMING SEGMENT | Three Months Ended | | | | | ||||||||||
($ in millions) | March 31, | | Increase/(Decrease) | ||||||||||||
| 2017 | | 2016 | | Amount | | % | ||||||||
Revenue(1) | | | | | | | | ||||||||
Gaming operations | $ | 172.4 | | | $ | 184.4 | | | $ | (12.0) | | | (6.5) | % | |
Gaming machine sales | 156.2 | | | 134.5 | | | 21.7 | | | 16.1 | % | ||||
Gaming systems | 61.5 | | | 59.7 | | | 1.8 Werbung Mehr Nachrichten zur Light & Wonder Inc Aktie kostenlos abonnieren
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