Ainsworth shares drop for second day as results disappoint

Shares in Ainsworth Game Technologies dropped to their lowest levels for about 18 months, falling for a second day, after the company posted lower-than-expected full-year results.The decline has prompted some market commentators to note this may be a good time to buy into the Australian gaming stock.Net profit after tax rose 18 percent to $61.6 million ($57.5 million) in the year ended June 30. The result missed the consensus among analysts, who had expected net profit of $69.4 million, according to Bloomberg. Revenue rose 23 percent to $244 million, again below expectations. International sales rose 37 percent to $100.8 million, outpacing the domestic business which reported a 15 percent rise in revenue to $143.3 million.The shares lost almost 10 percent on Tuesday.Ainsworth says it’s now planning on international expansion to fuel further growth.

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