Shuffle Master, Inc. (NASDAQ:SHFL) announced its results for the fourth quarter and fiscal year ended October 31, 2011.

“It was a sensational year at Shuffle Master and we ended it the way we wanted to, with a blockbuster fourth quarter,” said Gavin Isaacs, Chief Executive Officer of Shuffle Master. “By nearly every financial metric we use, including revenue, recurring revenue and Adjusted EBITDA, the quarter and the year, were record breakers for us. It’s important to view these results not only as a testament to past performance, but also as a benchmark for our future. By continuing to raise our expectations and our efforts, we believe we will ensure the best days for this Company are the ones that lie ahead.”

“What really stands out for me in our results is our ability to consistently generate such strong cash flow,” said Lin Fox, Chief Financial Officer of the Company. “Not only did we drive record revenue and net income this year, but at the same time we reduced our net debt by $39 million, or 70%. Our balance sheet is the best it’s been in years, something that gives us the flexibility to take advantage of any opportunities we find attractive.”

Fourth Quarter 2011 Financial Highlights

Revenue increased year-over-year by 12% to a record $65.7 million, up from $58.6 million in the prior year period.

Total lease, royalty and service (“recurring”) revenue was up 12% year-over-year and 3% sequentially, and totaled $27.6 million.

Read full article at: http://pennyomega.com/19015/stock-alerts/shfl-manh-mjgcf-infa-grmn-notable-stock-by-pennyomegacom/

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