U.S.-based Global Cash Access Holdings Inc reported a 30.3% drop in net income in the second quarter of 2014 compared to a year ago.
The New York-listed company, also known as GCA, which supplies cash access products and related services to the gaming industry, posted a profit of $4.7 million in the three months ended June 30.
Cash earnings per share fell 0.01 dollars, or 5%, to $0.20. The company’s total revenue fell 2.8% to $144.9 million.
Adjusted earnings before interest, taxation, depreciation expenses (EBITDA) and non-cash compensation fell 7% year-over-year to $17.7 million in the second quarter.
Global Cash Access, which has subsidiaries in Macau, completed its U.S.-based acquisition of NewWave Inc. in April. NewWave is a supplier of compliance, audit, and data efficiency software to the gaming industry.
Global Cash Access’s 2014 guidance would show cash earnings per share between US$0.87 and US$0.91 (for approximately 67.1 million diluted shares) and adjusted EBITDA between US$76 million and US$79 million, the company said.
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