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 2013 Results

Stocks in this article: GCA

LAS VEGAS, Aug. 6, 2013 (GLOBE NEWSWIRE) -- Global Cash Access Holdings, Inc. (the "Company") (NYSE:GCA) announced today financial results for the second quarter ended June 30, 2013.

Key Highlights

  • Other Revenue increased 75% due to Kiosk Sales and Service Revenues, which increased 111% year-over-year
  • Cash Advance Revenue increased 1% primarily due to stronger international revenues year-over-year
  • GCA to provide Scientific Games a Digital Wallet for iLottery

"The second quarter was exciting on many fronts as we continued to execute on our plans to become the leading kiosk provider, to deliver excellent customer service and to become the most complete provider of cash management and payment solutions available to land-based and online gaming operators. Results were in line with expectations and we are pleased to remain on target to meet our full year 2013 guidance expectations. We are especially proud of our recently announced agreement with Scientific Games to provide cash access and wallet services for their iLottery customers," said David Lopez, President and CEO of GCA.

Fiscal Second Quarter 2013 Results

Revenues were $149.1 million for the second quarter 2013, as compared to $147.5 million for the same period in 2012. Operating income was $13.6 million for the second quarter 2013, as compared to $16.0 million for the same period in 2012. Adjusted earnings before interest, taxes, depreciation and amortization and non-cash compensation expense ("Adjusted EBITDA") (see Non-GAAP Financial Information below) were $19.1 million for the second quarter 2013, as compared to $21.4 million for the same period in 2012. The decreases in operating income and Adjusted EBITDA were primarily due to lower operating income in our ATM segment and higher payroll and related expenses and occupancy related expenses, partially offset by higher kiosk sales in the second quarter 2013, as compared to the same period in 2012.

1 of 4

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 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

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