IGT profit rises

Net income rose to us$ 136.4 million up from us$ 114.1 million a year earlier. That beat Wall Street expectations of 39 cents per share, on average, according to Reuters estimates. The company said third-quarter revenue rose 15 percent to us$ 706.5 million.

Product sales rose 23 percent to us$ 364.6 million, while revenue from the company’s own gaming operations rose 9 percent to us$ 341.9 million. For the nine-month period ended June 30, net income grew to us$ 385.6 million compared to us$ 358.8 million in the same period last year.

"IGT’s record third quarter results reflect the power of our gaming operations business and strong double-digit growth in product sales," said Chairman and CEO TJ Matthews.

"Year-to-date, we have generated us$ 564.9 million in cash flow from operations and returned us$ 742.4 million to shareholders in the form of share buybacks and dividends. This quarter we also made strategic investments in China LotSynergy Holdings and Digideal Corporation, and entered into a significant five-year cooperation agreement with Casino Club of Argentina. These important investments, coupled with our focus on maintaining IGT’s position as a leading worldwide provider of innovative gaming technology, will further expand both our product and geographic reach,” Matthews added.