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Lottery Systems Maker Builds Base On Base.(B)(NASDAQ STOCKS IN THE NEWS)
Byline: Craig Shaw
Scientific Games is shaping a six-month base-on-base pattern, a common formation in this year's choppy market. Up weeks on above-average trade outnumber down weeks 9-3, a sign of accumulation by mutual funds. The stock found support above its 200-day line in mid-May.
The parimutuel wagering gear and lottery systems maker's profit growth accelerated the past three quarters from 17% to 36% to 55% to 69%. Annual revenue grew each of the past six years, ranging from 1% in 1998 to 64% in 2001. The firm's Leisure-Gaming/Equipment group ranks No. 16 of IBD's 197 industries.
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