This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Global Cash Access Reports Second Quarter 2012 Results

Stocks in this article: GCA

Global Cash Access Holdings, Inc. (the "Company") (NYSE:GCA) announced today financial results for the second quarter ended June 30, 2012.

Second Quarter 2012 Highlights

  • Operating income increased 125% quarter-over-quarter to $16.0 million
  • EBITDA increased 68% quarter-over-quarter to $20.1 million
  • Net income per share, on a diluted basis, increased 450% quarter-over-quarter to $0.11
  • Cash EPS increased 92% quarter-over-quarter to $0.23

“We are very pleased with the Company’s performance in the second quarter and for the first half of 2012. The Company is performing well in all segments and we continue to execute our plans and strategies. GCA continues to be well positioned for the second half of 2012,” said Scott Betts, CEO of Global Cash Access.

“I am also pleased to announce that the Company has executed a letter of intent with Live Gamer. Live Gamer is a leading independent wallet, analytics and media supplier for the social gaming space worldwide,” said Scott Betts, CEO of Global Cash Access. “Our proposed alliance with Live Gamer will combine GCA’s casino cash management expertise with Live Gamer’s cutting edge technology platform, expertise and player knowledge as a leader in the social and play-for-fun industry. We believe this alliance will position GCA well to develop integrated solutions as the social and Internet gaming markets continue to rapidly evolve. This approach acknowledges the importance of understanding the current trends in social gaming as we think about the Internet for our industry.”

Second Quarter 2012 Results

Revenues were $147.5 million for the second quarter 2012, as compared to revenues of $135.1 million for the same period in 2011. The overall increase in revenues was primarily due to the MCA asset acquisition coupled with modest organic growth in the Company’s base business. Operating income was $16.0 million for the second quarter 2012, an increase of 125%, as compared to $7.1 million for the same period in 2011. Earnings before interest, taxes, depreciation and amortization ("EBITDA") (see Non-GAAP Financial Information below) were $20.1 million for the second quarter 2012, an increase of 68%, as compared to $12.0 million for the same period in 2011. The increase in EBITDA for the second quarter 2012 was primarily a result of both the October 1, 2011 enactment of the Durbin Amendment and its impact on the interchange rates paid by the Company on its debit card transactions, as well as the MCA asset purchase. Adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") (see Non-GAAP Financial Information below) were $21.4 million for the second quarter 2012, an increase of 50%, as compared to $14.3 million for the same period in 2011.

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs