Galaxy Gaming (OTCMKTS:GLXZ) Releases Quarterly Earnings Results

Galaxy Gaming (OTCMKTS:GLXZ) announced its quarterly earnings data 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 29.00% and a net margin of 15.79%.

Galaxy Gaming Price Performance

GLXZ traded down $0.02 during trading on Monday, reaching $1.58. 35,050 shares of the company’s stock were exchanged, 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 stock has a market capitalization of $39.75 million, a P/E ratio of 8.32 and a beta of 0.42. The company’s fifty day simple moving average is $1.61 and its 200-day simple moving average is $1.78.

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

About Galaxy Gaming

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.