Las Vegas NowInt'l Game Technology reports fiscal 4Q loss
Associated Press - November 5, 2009 5:05 PM ET
RENO, Nev. (AP) - International Game Technology has posted a fiscal fourth-quarter loss, but says it thinks demand for its slot machines and casino management systems has stabilized.
The company on Thursday posted a loss of $21.3 million, or 7 cents per share, compared with a profit $52.1 million, or 18 cents per share, in the same quarter last year.
Revenue slipped to $514.6 million, from $632.2 million a year ago.
Analysts surveyed by Thomson Reuters, who usually exclude 1-time items from their estimates, predicted earnings of 17 cents per share on revenue of $497.9 million.
For the full fiscal year, profit fell to $149 million, or 51 cents per share, from $342.5 million, or $1.10 per share, in fiscal 2008.
Sales fell to $2.11 billion from $2.53 billion a year earlier.
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