IGT Posts Gaming Gains, Shares Slide
| 08 November 2006 |    |
Higher margins and robust results from its gambling operations offset a slip in slot machine sales volume and helped International Game Technology push its fourth quarter profit up 9%. Before the bell Tuesday, IGT (IGT) said net income rose to $114.9 million, or 33 cents a share, from $105.4 million, or 30 cents a share, a year earlier. The latest results include special items that trimmed earnings by $5.5 million, or 2 cents a share. Revenue for the Reno, Nev., maker and operator of slot machines and other gambling equipment rose 5% to $638.7 million.
The average estimate of analysts polled by Thomson First Call was for a profit of 34 cents a share in the September period on revenue of $627.8 million.
Article By: SmartMoney.com
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