The firm said the 2016 Q4 operating loss included a US$ 69 million non-cash goodwill impairment charge and restructuring; and other charges of US$ 36 million. Net loss for the three months to December 31 decreased by 13% year-on-year to US$ 111 million.
"The 2016 fourth quarter was the fifth consecutive quarter of growth, with year-over-year revenue growth besting last year’s strong performance,” said Kevin Sheehan, Scientific Games’ chief executive.
"Our gaming division continues to lead with innovation and strong execution, including the launch of the Gamescape platform, which in the fourth quarter helped drive the first quarterly sequential increase in our wide-area progressive (WAP) premium-participation installed base in more than three years, as well as the initial very promising performance of our innovative TwinStar J43 for-sale gaming cabinet.”
Scientific Games’ gaming segment saw total revenue down almost 2% to US$ 460 million, while gaming machine sales revenue declined nearly 3% to US$ 170 million.
Total revenue for its interactive division increased by 52% year-on-year to US$ 92 million. For full-year 2016, the company said its revenue grew by 4.5% in year-on-year terms to US$ 2.9
Scientific Games chief financial officer Michael Quartieri said: "We continue to refine our business processes to yield greater financial discipline, while ensuring continued investment in innovation to drive profitable growth.
"While improvement initiatives implemented in the fourth quarter had a cash cost of US$ 6 million, we expect these actions will expand our margins and cash flow in 2017.”
