Galaxy Gaming (OTCMKTS:GLXZ) Posts Earnings Results

Galaxy Gaming (OTCMKTS:GLXZ) posted its quarterly earnings results on Monday. The company reported $0.20 EPS for the quarter, Zacks reports. Galaxy Gaming had a negative return on equity of 29.00% and a net margin of 15.79%.

Galaxy Gaming Trading Down 1.3%

OTCMKTS:GLXZ traded down $0.02 during trading hours on Monday, hitting $1.58. The company had a trading volume of 35,050 shares, compared to its average volume of 64,782. Galaxy Gaming has a 1 year low of $1.42 and a 1 year high of $2.99. The company has a 50-day moving average of $1.61 and a 200 day moving average of $1.78. The company has a market cap of $39.75 million, a P/E ratio of 8.32 and a beta of 0.42.

Galaxy Gaming announced that its Board of Directors has initiated a stock buyback plan on Wednesday, July 22nd that authorizes the company to repurchase $4 million in shares. This repurchase authorization authorizes the company to buy up to 10.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are 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.

Founded in 1997 and headquartered in Las Vegas, Nevada, Galaxy Gaming has historically served casino operators in the United States and international markets.