The company gets three-quarters of its sales from outside Australia
Aristocrat warns of stalled full-year profits
2007-10-25
Reading time 28 seg
The Sydney-based slot machine maker said net income would be around us$ 215 million in the 12 months ending December 31, almost 19 per cent below analysts estimates.
Chief Executive Officer Paul Oneile said that the company gets three-quarters of its sales from outside Australia, and is battling a currency he expects will be 15 per cent higher in the second half than a year earlier.
He also reported that this year's North American sales volume will fall as much as 20 per cent on lower casino orders and a lack of new gambling jurisdictions. "While these results are disappointing, we believe that the adverse operating conditions in our key markets are short term," Oneile concluded.
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