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As of 8:10 PM 09/16/14 All times are local (Market data is delayed by at least 15 minutes).

galaxy gaming inc (GLXZ) Key Developments

Galaxy Gaming, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Galaxy Gaming, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of $2,462,529 against $1,943,726 a year ago. These increases are primarily due to additional placement of premium games and expansion into new territories. Income from operations was $507,841 against $377,671 a year ago. Income before provision for income taxes was $233,223 against $124,937 a year ago. Net income was $109,377 or $0.00 per basic and diluted share against $85,190 or $0.00 per basic and diluted share a year ago. The increase was primarily due to significant growth in recurring revenue. EBITDA was $987,061 against $787,628 a year ago. For the six months, the company reported revenue of $4,727,340 against $3,840,104 a year ago. These increases are primarily due to additional placement of premium games and expansion into new territories. Income from operations was $1,029,859 against $781,385 a year ago. Income before provision for income taxes was $477,631 against $277,497 a year ago. Net income was $260,542 or $0.01 per basic and diluted share against $188,987 or $0.00 per basic and diluted share a year ago. The increase was primarily due to significant growth in recurring revenue. Net cash provided by operating activities was $1,407,953 against $999,657 a year ago. Acquisition of property and equipment was $8,791 against $18,347 a year ago. Acquisition of intangible assets was $35,000. EBITDA was $1,966,558 against $1,600,178 a year ago.

Galaxy Gaming, Inc. Adds Czech Republic to its Global Operational Footprint

Galaxy Gaming, Inc. announced that it has added the Czech Republic to its global operational footprint. These units are the company's first installations in Eastern Europe, and intend to expand in more international locales.

Galaxy Gaming, Inc., Q2 2014 Earnings Call, Aug 18, 2014

Galaxy Gaming, Inc., Q2 2014 Earnings Call, Aug 18, 2014

Galaxy Gaming, Inc. Announces Change of Independent Registered Public Accounting Firms

On July 31, 2014, Silberstein Ungar, PLLC notified Galaxy Gaming, Inc. that its client base has been acquired by KLJ & Associates, LLP. As a result of the transaction, the Former Accountant effectively resigned as the Company's independent registered public accounting firm and the New Accountant, as the successor following the transaction, became the company's independent registered public accounting firm. The engagement of the New Accountant was approved by the company's Board of Directors on August 4, 2014.

Galaxy Gaming, Inc. Expands its European Operations into France

Galaxy Gaming, Inc. announced the installation of its proprietary table games in France. This event marks the first French approval of a proprietary table game. Groupe Lucien Barrière, has agreed to install Galaxy Gaming's award-winning table game "Lucky Ladies" into six different French casinos. The first installation occurred at the Casino Barrière du Deauville in Normandy.

 

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GLXZ

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Valuation GLXZ Industry Range
Price/Earnings 24.2x
Price/Sales 1.7x
Price/Book 10.3x
Price/Cash Flow 6.8x
TEV/Sales NM Not Meaningful
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