The value of small cap stock for Scientific Games Corp. (NASDAQ:SGMS) was down on Tuesday after the company reported a loss in the second quarter, compared with analysts' estimates that called for earnings of 12 cents per share.
Total revenue grew 4.1 percent on the year to $229.3 million as sales of lottery systems and terminals picked up, however, revenue from instant tickets fell 8.3 percent on the year to $119.6 million.
Still, the company remained positive, and said it would address the problems it encountered this quarter.
"As we pursue a number of growth opportunities both domestically and internationally, we continue to remain highly focused on strengthening our balance sheet," said Jeffrey Lipkin, senior vice president and CFO.
The company's total losses came in at $12.6 million, or 14 cents per share, compared to net income of $7 million, or 8 cents per share, in the same quarter in 2011.
The company's stock fell by 18.5 percent in response to the quarterly loss, hitting $6.80 by 3:44 pm on Tuesday, August 7.
