SHUFFLE MASTER REPORTS RECORD INCOME

May 23, 2001 8:17 PM
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Shuffle Master announced record revenues and net income for the second fiscal quarter ended April 30.

Increases in sales and leases of new slot machines and automatic shufflers boosted revenues from $9.6 million in the second quarter of 2000 to $12.3 million, a 28 percent jump. Operating income increased 34 percent to $4.5 million, resulting in a 38 percent increase in net income, from $2.2 million, or 20 cents per diluted share, to $3 million, or 24 cents per diluted share.

The company's base of leased shufflers increased from 2,505 to 3,016. The number of shufflers sold was 351, compared with 202 in the same period last year.

The company has a total of 1,147 slot games installed, 236 more than 2Q00.

The new "Let's Make A Deal" game, produced in cooperation with International Game Technology, is scheduled to enter producation at the end of the month, the company said.

In other news, Shuffle Master announced a 3-for-2 stock split that will be paid in the form of a dividend. The additional shares will be issued June 18 to shareholders of record as of June 8.

Shuffle Master closed Tuesday at $34, just shy of its 52-week high of $34.50.