Melco Crown Entertainment Ltd Earnings Cheat Sheet: A Swing to Quarterly Profit

The Cheat Sheet

Melco Crown Entertainment Limited reported its results for the second quarter. Melco Crown Entertainment, Ltd. is a holding Company, which through its subsidiaries, develops, owns and operates casino gaming and entertainment resort facilities focused on the Macau market.

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Melco Crown Entertainment Earnings Cheat Sheet for the Second Quarter

Results: Swung to a profit of $66.7 million (12 cents per diluted share) in the quarter. The resort and casino company had a net loss of $30.1 million or a loss of 6 cents per share in the year earlier quarter.

Revenue: Rose 67.3% to $960 million from the year earlier quarter.

Actual vs. Wall St. Expectations: MPEL beat the mean analyst estimate of 11 cents per share. It beat the average revenue estimate of $925.1 million.

Quoting Management: Mr. Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown Entertainment, commented, “These results represent another strong quarter for our Company, driven by significantly improved operating performance across all areas of the business. Our second quarter results reflect record consolidated EBITDA on record setting gaming volumes for our Company. Our overall profitability continues to reflect our various cost containment initiatives that help drive strong operating leverage.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 82.9%, with the biggest boost coming in the second quarter of the last fiscal year when revenue rose more than twofold from the year earlier quarter.

The company topped expectations last quarter after falling short of forecasts in the first quarter with net income of one cent versus a mean estimate of net income of 6 cents per share.

Competitors to Watch: Melco Crown Entertainment Ltd. , Wynn Resorts, Limited , MGM Resorts International. , Las Vegas Sands Corp. , Century Casinos, Inc. , Ameristar Casinos, Inc. , Asia Entertainment & Resources Ltd. , and Pinnacle Entertainment, Inc .

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(Source: Xignite Financials)

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