Scientific Games, a US gaming technology company, says their net losses were cut by 31.5 percent in 2017, due to a solid performance in three business sectors. Scientific Games stated they have a net loss for 2017, but it is lower than 2016. In 2016, they reported a net loss of $353 million to the Nasdaq exchange. The operating income improved, and interest expenses decreased. In 2017, the reported loss was $242 million, which is the 31.5 percent change between the two years.
Scientific Games did turn in a recorded gain of $3.08 billion in revenue for 2017. It is a 7 percent increase. The adjusted earnings, which is before taxation, interest, depreciation, and amortization was 11 percent higher than the prior year. The difference is $1.22 billion versus $1.1 billion the year before.
Scientific Games showed their operating income is doubled from 2016, reaching $393 million, and this includes a $69 million impairment for goodwill. The report further indicates the companies net debt is $8.08 billion, which is down from $8.12 billion from 2016.
The improved performance is one thing the company believes has helped them. The other thing is strong prospects, which will help to refinance a portion of the capital during 2018, and this lowers the cost of capital gains while increasing the cash flow. These details came from the CFO of Scientific Games, Michael Quartieri, in a statement to the media.
The final quarter of 2017 ended on a high note for the company according to the revenue recordings. The details show a 9.4 percent increase to $823 million from three of the companies sections. Scientific Gaming machine sales also rose 12 percent in sales for the fourth quarter, earning $189.8 million. It was a 23 percent increase in goods to the US and Canada that replaced older machines.
International Shipment Data
International shipments are up 7 percent, with 4,409 units sold between October and December 2017. The percentage is compared to 2016, which had 4,119 units sold in the final quarter.
Scientific Gaming did not provide shipment information for Asian based gambling facilities. They did not have as much luck with table products in the fourth quarter. They also did not show an increase in gaming operations with the year on year comparison. The company shows a decrease in table product revenue by $50 million and gaming operations is down $169.2 million. It was up to $172.6 million in 2016.