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Scientific Games Q1 loss widens YOY

Scientific Games Corp. said its first-quarter normalized net income came to a loss of 100 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of $1.27 per share.

The per-share loss increased year over year from 34 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $84.9 million, compared with a loss of $28.8 million in the prior-year period.

The normalized profit margin declined to negative 13.3% from negative 7.4% in the year-earlier period.

Total revenue grew 69.7% on an annual basis to $658.7 million from $388.1 million, and total operating expenses rose 59.1% year over year to $627.8 million from $394.6 million.

Reported net income came to a loss of $86.2 million, or a loss of $1.01 per share, compared to a loss of $44.7 million, or a loss of 53 cents per share, in the prior-year period.