IGT reports 2009 first quarter results
Comparability for the quarter was unfavorably impacted by a number of significant items that total us$ 20.4 million, after tax, or us$ 0.07 per diluted share.
Comparability was also affected by an extra week in the current quarter due to the company’s 52/53-week fiscal year, where fiscal 2009 will contain 53 weeks versus the normal 52 weeks in fiscal 2008.
As a result, the current year quarter was 14 weeks in length compared to 13 weeks in the prior year quarter.
"Our first quarter results reflect the on-going effects of difficult economic conditions worldwide that have impacted both gaming operators and casino patrons. Although we expect to continue to face a challenging global market environment in the near-term, we remain focused on IGT’s long term objectives,” said Chairman and CEO TJ Matthews.
“During the quarter we filled key strategic roles, implemented cost rationalization initiatives and completed the upgrade of our entire line of machine products headlined by our innovative Multi- Layer Display (MLD) technology and REELdepth games," added Matthews.
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