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Scientific Games Q1 loss narrows YOY

Scientific Games Corp. said its normalized net income for the first quarter came to a loss of 79 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 92 cents per share.

The per-share loss decreased 23.7% year over year from $1.03.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $68.0 million, compared with a loss of $87.8 million in the year-earlier period.

The normalized profit margin rose to negative 10.0% from negative 13.3% in the year-earlier period.

Total revenue climbed on an annual basis to $682.0 million from $658.7 million, and total operating expenses came to $629.0 million, compared with $632.4 million in the year-earlier period.

Reported net income came to a loss of $92.7 million, or a loss of $1.07 per share, compared to a loss of $86.2 million, or a loss of $1.01 per share, in the prior-year period.