Shuffle Master 3Q profit up 87 percent

Shuffle Master 3Q profit jump 87 percent on cost controls

• On 5:02 pm EDT, Wednesday September 9, 2009

LAS VEGAS (AP) -- Casino equipment maker Shuffle Master Inc. on Wednesday said its third-quarter profit jumped 87 percent as it kept a lid on expenses.

The company reported a profit of $5.6 million, or 10 cents per share, for the quarter ended July 31, up from $3 million, or 8 cents per share, during the same period last year. Revenue fell 8.9 percent to $45.1 million from $49.5 million a year ago.

Analysts surveyed by Thomson Reuters were expecting a profit of 7 cents per share on revenue of $45.2 million.

The company said its selling, general and administrative expenses fell by $3.4 million, or 19 percent, to $14.2 million.

Shuffle Master shares rose 16 cents, or 2.1 percent, to close at $7.69 before the results were released. They rose another 30 cents, or 3.9 percent, to $7.99 in late trading.