Shuffle Master deals out a 3-for-2 split and strong earnings

Gaming supply company, Shuffle Master Inc. (Nasdaq:SHFL) announced a 3-for-2 stock split and record second quarter results this afternoon. On the payable date of June 18, shareholders of record as of June 8 will receive one additional common share for every two shares held. Currently there are 11.5 million shares outstanding, 10.2 million in the float, and 45 million authorized.

The Company released second quarter earnings results in conjunction with the split announcement, with EPS of $0.24 beating street estimates by two cents. For the three months ended April 30, 2001, Shuffle Master reported revenue of $12.3 million; a 28 percent increase over the same period last year. Figures have been adjusted for the 3-for-2 stock split announced last October.

Chairman and CEO, Joseph J. Lahti, stated, "Our second quarter showed terrific growth in all product lines compared to last year's second quarter. Shuffler revenue increased 43 percent, table revenue 25 percent and slot revenue 60 percent."

SHFL shares closed down -0.66 today to $31.84 with almost 303 thousand shares changing hands. The 52-week range on the stock is 7.66 - 34.50 (the high was hit on May 21) and the average 3-month volume is 268,090.

About the Company

Shuffle Master Inc. is a gaming supply company specializing in providing innovative, high quality products and services to the casino industry, including card shufflers and other table gaming equipment, table and slot games, and gaming machine software and related hardware. The company was ranked as the 33rd best small company in America by Forbes magazine in its 2000 survey. (company press release)

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