Shuffle Master’s profit goes down

Casino equipment maker Shuffle Master Inc. announced an 8 percent drop in the company’s fourth-quarter net income. That was due to a legal settlement and financing costs, it said. Shuffle Master posted a net income of US$5.7 million (45.6 million) in the quarter ended October 31 2010, compared with US$6.2 million, a year earlier. The company’s revenue rose 7 percent to US$58.6 million. For the fiscal year, the company earned US$23.1 million, a 54 percent year-on-year increase. Revenue rose to $201.3 million from $179.4 million.