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Scientific Games Corporation Message Board

  • soxfan10131013 soxfan10131013 Mar 12, 2013 10:20 AM Flag

    I just listened to the replay of the SGMS Q4 conference call

    A few highlights from yesterday's 37 minute SGMS Q4 earnings conference call:

    1. Lorne droning on in his intro about the Company's "strong quarter", totally ignoring the huge surprise net loss SGMS posted in Q4. Not even a mention of the big earnings miss. Stock is already down 6% this morning. He should know the giant earnings miss would be a big problem.

    2. CFO droning on his discussion of the results, treating the $30 Million in Q4 write-offs as if they were immaterial small numbers. Again, not any explanation of the 2 huge write-offs, nor any indication that the SGMS trend of massive quarterly surprise write-offs will end anytime soon. Totally disconnected from the realities of the capital markets.

    3. Chambrello explaining how yet another poor quarter in China will be remedied by yet another new and improved marketing plan that now features "Sci Games Certified" game designs. The numbers don't lie! SGMs needs major change in China. SGMS may be the only company in the world with declining sales in China quarter after quarter.

    4. CFO signaling that SGMS's financial performance in Q1 of 2013, which ends in less than 3 weeks, will also be poor, due to weak sales in China (during Jan and Feb) and higher SG&A expenses related to the WMS acquisition (an additional $5 Million or more in Q1).

    5. Lorne and CFO did a particularly poor job answering the few analyst questions. Little enthusiasm by analysts for any of the #$%$ Lorne and CFO were serving up.

    6. Lorne's wrap-up after the Q&A period was so weak it was embarrassing.

    7. A few suggestions to SGMS Board of Directors:
    - Don't let Lorne talk so much without a script during these calls
    - Don't let CFO talk about sales, business development or operations
    - When the Company has a bad quarter (like this one), acknowledge it; don't call it "strong"
    - Get a real #$%$ board and let him talk
    - Make a big change in China now!

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    • ;).. I guess they forgot that IGT once owned a lottery company...I think IGT paid 30 mil for it and sold it to SGMS for 135 mil?..I forget the exact numbers, but one has to wonder what these guys are thinking or if they really care. Pleased, Strong, Well positioned, all buzz words we've heard for a decade. Do you think ALW is fibbing? The CEO's I'm used to hearing would not stand up in front of an audience and announce how pleased they are with another losing quarter unless the objective was to drive the stock price to zero.
      It will be interesting to see how they mess up WMS and blow that one as well.

 
SGMS
12.39-0.87(-6.56%)Sep 16 4:00 PMEDT

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