Galaxy Gaming (OTCMKTS:GLXZ) Releases Earnings Results

Galaxy Gaming (OTCMKTS:GLXZ) issued its earnings results on Monday. The company reported $0.20 earnings per share (EPS) for the quarter, Zacks reports. Galaxy Gaming had a negative return on equity of 55.38% and a net margin of 28.32%. The company had revenue of $7.98 million for the quarter.

Galaxy Gaming Trading Up 0.9%

GLXZ opened at $1.55 on Wednesday. Galaxy Gaming has a 1-year low of $1.42 and a 1-year high of $2.99. The company has a market cap of $39.00 million, a price-to-earnings ratio of 4.43 and a beta of 0.42. The company’s fifty day moving average price is $1.61 and its two-hundred day moving average price is $1.77.

Galaxy Gaming declared that its board has authorized a stock buyback program on Wednesday, July 22nd that allows the company to buy back $4 million in outstanding shares. This buyback authorization allows the company to reacquire up to 10.5% of its shares through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Galaxy Gaming Company Profile

Galaxy Gaming, Inc. is a gaming technology and casino entertainment company that develops, licenses and distributes proprietary casino table games, electronic gaming products and related systems. Its offerings are designed for land-based casinos, online gaming operators and other regulated gaming businesses. The company’s portfolio has included proprietary table games, side bets, progressive jackpots and electronic versions of casino games. Galaxy Gaming also provides casino management and jackpot systems, game content and licensing services, allowing operators to offer its products under regulatory approvals in applicable jurisdictions.