In its fiscal second quarter
IGT reported a net income of US$ 69.6 million
2011-04-28
Reading time 29 seg
Net income hit US$ 69.6 million, or 23 cents per share, compared to US$ 700,000, or break even on a per-share basis, a year ago.
In the year-ago period, IGT booked a one-time US$ 53 million impairment charge based on questions about the legality of its electronic bingo operations in Alabama.
In the most recent period, there were no adjustments. The results beat the average forecast of analysts polled by FactSet of 20 cents per share.
Revenue crept up 1 % to US$ 492 million from US$ 487 million a year ago. That also beat the US$ 482 million in revenue expected by analysts.
CEO Patti Hart said that although the company remains “in a challenging environment, the near and long-term outlooks for the company are improving.”
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