Mon, Sep 1, 2014, 10:28 PM EDT - U.S. Markets closed for Labor Day

Recent

% | $
Quotes you view appear here for quick access.

Scientific Games Corporation Message Board

  • soxfan10131013 soxfan10131013 Mar 11, 2013 9:36 PM Flag

    Another Disasterous Quarter! SGMS loses $24.7 Million!

    Four large horrible numbers tell the story of another hideous quarter for SGMS:

    1. Another giant writeoff of $24 Milllion for terminals and software in the Gaming group. This is a very big number given the relatively tiny size of this business unit. This writeoff continues the well-known SGMS tradition of regularly recurring non-recurring "extraordinary" charges against quarterly earnings.

    2. Another big writeoff of $5.8 Million for asset impairment in the Lottery group. The regularly recurring non-recurring charges tradition rocks on. Extraordinary!

    3. A 15% decline in China Sports Lottery (CSL) retail sales Q4 2012 versus Q4 2011 (in local currency terms). This sales decline is even worse in US$ when Chinese inflation is factored out of the RMB sales figures.

    4. A 12% decline in tickets sold by CSL in Q4 2012 versus Q4 2011. Without the much-heralded Chambrello marketing plan for growing CSL ticket sales, I guess it could have been worse.

    By the way, SGMS's net losses in 2012 dropped their net book equity down by $80 Million to $365 Million. This versus LTD of almost $1.5 Billion (4:1). And that's before the $1.6 Billion in new LTD to buy WMS.

    Another typical quarter by SGMS.

    Sentiment: Strong Sell

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I just re-checked Edgars. There were over 20 officers plus or minus a few (including ALW, and the CC cronnies) that filed form 4 to sell their options between 2/26 & 3/8, with ALW filing on 3/6. If you had confidence that your stock would go up, then why sell it right before earnings? Take a look at who sold and how many..I did get a kick out of them boasting how they returned $$$ to shareholders by buying back stock.
      Shareholders must be thrilled to get a chance to buy more at 8 and change then watch MGMT sell off a few cents above that.

    • yeah well, no surprise. The warning signs were flashing a late Feb. when ALW's conference call companions (Lipkin, Chambrello, etc) all filed form 4's and sold their options aquired at zero for 9.00-9.03. AS USUAL
      LOL... ALW was dizzy with glee at how well SGMS performed. Again ALW is pleased. How great is it to have a CEO that is happy to see his shareholders crushed. Maybe he's shorting stock? How can anyone with integrity announce with such pride how well the company is doing as it fails to meet expectation quarter after quarter? Lucky for SGMS banks and companies have all this cash laying around with no one to lend it to. Why lend for mortgages when they can lend it to SGMS? same risk more reward.. Two dollars might be to high.

      Now.. ALW
      "With me this evening as usually are Jeff Lipkin, our CFO and Mike Chambrello who runs our Asia-Pacific business. Also here is Jack Sarno, our chief legal officer, in case anyone has a question in that direction.

      We were pleased with the results of the quarter and the full year."

 
SGMS
10.15+0.17(+1.70%)Aug 29 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.
Exelixis, Inc.
NasdaqGSFri, Aug 29, 2014 4:00 PM EDT
Splunk, Inc.
NasdaqGSFri, Aug 29, 2014 4:00 PM EDT