LONDON, August 14, 2014 /PRNewswire/ --
Investor-Edge.com has issued free post-earnings review on Melco Crown Entertainment Ltd (NASDAQ: MPEL) as the company featured in the headlines on Thursday, August 07, 2014, for reporting a 10.6% year-over-over decline in the adjusted property - earnings before interest, taxes, depreciation, and amortization (EBITDA) in the second quarter of 2014. Additionally, the company's net revenue fell by 7.4% year-over-over during the reported period. Our free coverage report can be accessed at:
http://www.investor-edge.com/register
Earnings Overview
For the quarter ended June 30, 2014, the company's adjusted property EBITDA declined to $313.64 million from $350.77 million in the year ago period, primarily due to lower group-wide rolling chip volumes and rolling chip win rate, which was partially offset by growth in the mass market table games segment. Melco Crown Entertainment Ltd's net non-operating expenses declined to $35.82 million in Q2 2014 from $55.57 million in the year-ago quarter, primarily due to higher capitalized interest in the current quarter. During the reported period, the company incurred capital expenditures of $318.8 million, primarily on Studio City and City of Dreams Manila as well as for various projects at City of Dreams (Macau), including the fifth hotel tower. The free research on MPEL can be downloaded as in PDF format at:
http://www.Investor-Edge.com/MPELFreeReport
Melco Crown Entertainment Ltd's City of Dreams Macau, generated net revenue $967.5 million in Q2 2014, compared to $967.0 million in the second quarter of 2013. The company's Altira Macau registered net revenues of $181.6 million as compared to $278.8 million in the year ago quarter. While, it's Mocha Clubs' net revenue fell 2% year-over-year to $36.5 million in Q2 2014 from $37.2 million in Q2 2013.
The CEO and Co-Chairman of Melco Crown Entertainment Ltd, Lawrence Ho, said in a recent press release that the revenue from mass market table games business at City of Dreams grew by approximately 38% year-over-year and was the key driver to the company's solid underlying financial performance. Mr. Ho asserted that City of Dreams Manila, which is due to open later this year, will mark the company's evolution as regional player in the gaming and entertainment industry. He further added that the company's second large-scale resort in Cotai, Studio City will provide for entertainment proposition not yet available in the region and is on track to open in mid-2015.
During the second quarter of 2014, the Macau-based company's net revenue came in at $1,199.54 million, versus the Bloomberg estimate of $1,256.00 million. The company reported GAAP net income of $143.64 million, or $0.26 per diluted American Depositary Shares (ADS) in Q2 2014, compared with $181.05 million, or $0.33 per diluted ADS, in the second quarter of 2013. Bloomberg GAAP net income Expectation was $203.83 million, or GAAP EPS of $0.38 per diluted ADS. Sign up and read the free analyst's notes on MPEL at:
http://www.Investor-Edge.com/MPEL-14082014
Stock Performance
On the day of the earnings release, Thursday, August 7, 2014, Melco Crown Entertainment Ltd's shares declined 4.89% to end the session at $28.55. However, on the last close, Wednesday, August 13, 2014, the stock gained 2.44% to close at $29.38. The stock vacillated between $28.69 and $29.58 during the session. A total of 4.01 million shares were traded, which was marginally above its three months average volume of 3.98 million shares. Over the previous three trading sessions and over the last one month, the company's shares have fallen by 0.44% and 11.21%, respectively. Further, from the beginning of 2014, the stock has lost 24.45%. Melco Crown Entertainment Ltd's shares are trading below their 50-day and 200-day moving averages of $32.90 and $36.54, respectively. The stock traded at a PE ratio of 23.98 and has a Relative Strength Index (RSI) of 35.96. Visit Investor-Edge and access the latest research on MPEL at:
http://www.Investor-Edge.com/MPELEarningsCoverage
Sneak Peek to Corporate Insider Trading
In the last one month, Melco Crown Entertainment Ltd has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on MPEL is available at:
http://www.Investor-Edge.com/MPELInsiderTrading
About Investor-Edge.com
At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.
===============
EDITOR'S NOTES:
===============
1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.
2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.
3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.
4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] http://www.investor-edge.com.
5. For any urgent concerns or inquiries, please contact us at compliance [at] http://www.investor-edge.com.
6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] http://www.investor-edge.com for consideration.
COMPLIANCE PROCEDURE
Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Investor-Edge, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Investor-Edge in this article or report according to the procedures outlined by Investor-Edge. Investor-Edge is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.
NOT FINANCIAL ADVICE
Investor-Edge makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.
NO WARRANTY OR LIABILITY ASSUMED
Investor-Edge is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Investor-Edge whatsoever for any direct, indirect or consequential loss arising from the use of this document. Investor-Edge expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Investor-Edge does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE Investor-Edge
