Second quarter earnings didn’t really factor into July’s AGEM Index.
Of the 13 companies tracked by Las Vegas-based financial advisor Applied Analysis for the Association of Gaming Equipment Manufacturers, eight reported month-over-month increases in their average daily stock prices.
Crane Co., a Las Vegas-based manufacturer of industrial products, had the highest monthly increase – up 13 percent on the New York Stock Exchange. Transact Technologies, a casino and lottery provider, had the largest decline, down 11.6 percent on the Nasdaq.
Meanwhile, gaming equipment giants International Game Technology and Scientific Games, were non-factors.
In total, the AGEM Index grew almost 3.5 percent during July.
IGT reported a decline in revenue for the second quarter that ended June 30, but off-set that result with a 4.2 percent increase in cashflow.
“This improvement in performance is attributable to strong worldwide lottery performance.” Applied Analysis wrote in the report.
Meanwhile, Scientific Games reported a 10 percent growth in revenue for the quarter – powered by its NYX division that the company acquired last year. However, adjusted cash flow fell 41.1 percent, disappointing investors.
According to the AGEM Index, IGT’s average daily stock price on the New York Stock Exchange grew 8.78 percent during July while Scientific Games’ average daily price was on the Nasdaq was down 2.24 percent.
Aristocrat Technologies, traded on the Australian Stock Exchange, was up 4.2 percent in July and has seen its average daily value increase 59 percent over the last 12 months.
The largest percentage gainer in the last 12 months is Galaxy Gaming. The Las Vegas-based table game provider – which went through a management shake-up last year – is up 74 percent in average daily value on the U.S. over-the-counter market. Ainsworth Game Technology is down 57 percent on the Australian Stock Exchange.
The Index covers eight suppliers in the United States that are listed on the New York Stock Exchange, the Nasdaq National Market and the U.S. over-the-counter market. Two of the suppliers are traded on the Australian Exchange, and one each are traded on the Tokyo Exchange and the Taiwan over-the-counter Market.
Howard Stutz is the executive editor of CDC Gaming. He can be reached at hstutz@cdcgamingreports.com. Follow @howardstutz on Twitter.
