Shares of Shuffle Master(SHFL Quote) were among the Nasdaq's losers Friday, sliding 9% after the casino-supply company posted third-quarter results that fell short of Wall Street's expectation. The company earned $7.3 million, or 20 cents a share, on revenue of $40.7 million. Analysts polled by Thomson First Call expected earnings of 24 cents a share on revenue of $46 million. During the year-earlier period, the company earned $8.1 million, or 22 cents a share, on revenue of $27.3 million.
Looking ahead, Shuffle Master now sees full-year earnings of 97 cents to $1 a share. In June, the company said it would earn between $1 and $1.05 a share. The company blamed the earnings revision on longer-than-expected approval and selling cycles. Analysts project earnings of 90 cents a share. Shares were trading down $2.51 to $24.42.
Metal Management(MTLM Quote) rose 4% after the scrap-metal recycler announced a 2.7 million share buyback. The buyback plan represents about 10% of the company's stock outstanding. ...
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