Everi Reports 2016 Third Quarter Results

LAS VEGAS, Nov. 09, 2016 (GLOBE NEWSWIRE) -- Everi Holdings Inc. (NYSE:EVRI) ("Everi" or the "Company") today reported financial results for the third quarter ended September 30, 2016. 

Consolidated Full Quarter Comparative Results (unaudited)
    Three Months Ended   Three Months Ended
    September 30, 2016   September 30, 2015
         
    (in millions, except per share amounts)
             
Revenues   $     222.2     $     208.7  
             
Operating income (1)   $     11.6     $     14.7  
             
Net loss (1)   $     (8.3 )   $     (6.1 )
             
Net loss per diluted share (1)   $     (0.12 )   $     (0.09 )
             
Diluted shares outstanding         66.0           65.9  
             
Adjusted EBITDA (2)   $     51.6     $     51.5  

(1) Operating income, net loss, and net loss per diluted share for the three months ended September 30, 2015 included $0.3 million of acquisition and other costs related to the merger of Everi and Everi Games Holding Inc. completed in December 2014 (the "Merger") and purchase accounting adjustments. (2) For a reconciliation of Adjusted EBITDA, see the Unaudited Reconciliation of Net Loss to EBITDA and Adjusted EBITDA provided at the end of this release.

Michael Rumbolz, President and Chief Executive Officer of Everi, commented, "Our 2016 third quarter results reflect solid execution against key operating initiatives.  The progress we achieved in this quarter includes a year-over-year increase in units sold, growth in our installed base and solid growth in our Payments segment in both revenue and Adjusted EBITDA.  This continued execution of our strategic priorities is positioning the Company to achieve our goal of building operating momentum going forward. 

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