NEW YORK (TheStreet) -- Scientific Games Corp.
(SGMS) is down -2.94% to $8.24 in after hours trading on Tuesday after the company reported a net loss of -$72.4 million, or -86 cents per share for the 2014 second quarter, compared to a net loss of -$12.4 million, or -14 cents per share for the same quarter last year.
Scientific Games said its second quarter results "continued to reflect challenging gaming industry conditions."
However, the company said adjusted EBITDA increased to $132.1 million, from $84.5 million for the year ago period.
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The solutions provider to lottery and gaming organizations said revenue also grew to $416.9 million for the most recent quarter, compared to $235 million for the 2013 second quarter.
Separately, TheStreet Ratings team rates SCIENTIFIC GAMES CORP as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:"We rate SCIENTIFIC GAMES CORP (SGMS) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, disappointing return on equity, generally high debt management risk, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."
SGMS data by YCharts
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