Gaming equipment supplier Ainsworth saw its sales revenue drop 12 percent in FY19, with both international and domestic revenues down in the year.
The company said it saw ‘challenging conditions’ in Asia and New Zealand – with sales revenue down 35 percent year-on-year.
Australian revenues also took a hit in the period, falling 43 percent year-on-year, due to competitive pressures and lack of product performance. The company, however, noted that a new product suite is set to improve domestic game performance in the year ahead.
Ainsworth’s international business made up of the lion’s share of the revenue. It, however, also saw growth declines in the financial year, down 2 percent year-on-year to $198 million.
Similarly, LATAM revenues fell 8 percent, with profit down 22 percent in the financial year.
Only the North American market appeared to do well, with NA revenues up 8 percent year-on-year.
Ainsworth said the revenue growth was due to sales of the high-performing Quick Spin product family on the A640 cabinet.
As a result, total sales revenue reached $234 million, down 12 percent year-on-year, while profit before tax was $13 million.
Looking ahead, Ainsworth said it is committed to further investment in product development and the transition to new game concepts.
The company says it estimates a net loss before tax of approximately $4 million in the first half of FY20, followed by improved revenue and profit in the second half of the year.