International Game Technology’s cost-cutting efforts more than made up for reduced revenues from slower-than-expected first-quarter slot machine sales.

The Reno-based gambling equipment manufacturer saw its profit increase 20 percent in the period that ended Dec. 31, the company said Thursday.

IGT posted net income of $73.3 million in the quarter, or 25 cents a share, compared with $61.2 million, or 21 cents a share, reported a year earlier. Analysts polled by Thomson Reuters expected IGT to earn 20 cents per share.

In first quarter, companywide revenue was $515.7 million, a decline of 14 percent compared with $601.6 million a year ago due to disappointing sales. However, IGT said it cut costs by 25 percent to $375.4 million from $501.5 million.

IGT Chief Financial Officer Pat Cavanaugh told analysts the company would continue to push ahead with additional cost reductions.

“The work is never done and you can count on us to remain focused,” Cavanaugh said. “The revenue number is not something we are overly proud of.”

IGT Chief Executive Officer Patti Hart said the first quarter is normally one of the company’s slowest three-month periods. Hart was optimistic that casino operators, after holding down spending due to the recession, would increase their capital expenditure budgets this year to replace older and out-dated slot machines.

“Our first-quarter results reflect measured progress in numerous aspects of our business, despite continued challenges in the broader marketplace,” Hart said. “(We) achieved our highest operating margin in six quarters.”

During the quarter, Hart said IGT shipped more replacement slot machines to North American casinos than in the prior year’s quarter and deployed the company’s first large-scale server-based gaming system at Aria, which opened Dec. 16.

While the system, which connects slot machines from multiple companies to a central server that offers marketing messages and game content, is just a month old, Hart told analysts it’s drawing interest from other casino operators.

“We’re getting good feedback from the Aria folks,” Hart said.

Despite the net income jump, some on Wall Street believe IGT has a ways to go in recovering market share that it lost to it competitors.

“While IGT is making subtle strides in its turnaround and we are pleased with its progress, we continue to prefer WMS Industries and Bally Technologies,” Macquarie Securities gaming analyst Joel Simkins told investors Thursday. “Our view (is) that they have greater leverage to a recovery in the replacement cycle as well as jurisdictional expansion opportunities, robust product pipelines, additional margin expansion opportunities, and room for both domestic and international market share gains.”

IGT reported earnings after the close of trading on the New York Stock Exchange. Shares on the company closed at $20.20, down 11 cents, or 0.54 percent.

Hart also discussed IGT’s push into the high-tech industry to fill executive positions.

On Thursday, former MTV official Gideon Bierer was named executive vice president of new media, helping the company develop slot machine content through the Internet, mobile, and social networking.

“It is important to stay ahead of market trends and continuously evolve our business,” Hart said.

Since 2005, Bierer oversaw international digital media for MTV Networks and was responsible for all online and mobile businesses. 슬롯

28 comments on “International Game Technology’s cost-cutting efforts more than made up for reduced revenues from slower-than-expected first-quarter slot machine sales.”

답글 남기기

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

  • Mike Thomson
    4월 17, 2024 10:31 오전

    Hi there

    Just checked your highposition.xyz baclink profile, I noticed a moderate percentage of toxic links pointing to your website

    We will investigate each link for its toxicity and perform a professional clean up for you free of charge.

    Start recovering your ranks today:
    https://www.hilkom-digital.de/professional-linksprofile-clean-up-service/

    Regards
    Mike Thomson
    Hilkom Digital SEO Experts
    https://www.hilkom-digital.de/

  • xslot Giriş
    5월 25, 2024 2:36 오후

    Thank you great posting about essential oil. Hello Administ . Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • 国产线播放免费人成视频播放
    5월 29, 2024 3:08 오전

    Nice article inspiring thanks. Hello Administ . Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • xslot
    6월 1, 2024 3:03 오후

    Thank you great posting about essential oil. Hello Administ . Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • xslot
    6월 2, 2024 1:45 오전

    Great post thank you. Hello Administ . Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • 国产线播放免费人成视频播放
    6월 2, 2024 10:33 오후

    Everything is very open and very clear explanation of issues. was truly information.Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • 国产线播放免费人成视频播放
    6월 3, 2024 1:10 오전

    Thank you great post. Hello Administ .Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • casibom.com
    6월 3, 2024 1:21 오전

    Good info. Lucky me I reach on your website by accident, I bookmarked it. Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • xslot
    6월 5, 2024 1:01 오전

    Hello! I could have sworn I’ve been to this blog before but after browsing through some of the post I realized it’s new to me.Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • 国产线播放免费人成视频播放
    6월 8, 2024 11:59 오후

    Hi, just required you to know I he added your site to my Google bookmarks due to your layout. But seriously, I believe your internet site has 1 in the freshest theme I??ve came across.Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • Tipobet
    6월 9, 2024 7:16 오후

    After all, what a great site and informative posts, I will upload inbound link – bookmark this web site? Regards, Reader.Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • Tipobet
    6월 9, 2024 7:16 오후

    Thank you great post. Hello Administ .Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • Tipobet
    6월 9, 2024 7:20 오후

    Good info. Lucky me I reach on your website by accident, I bookmarked it. Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • Hacklink panel
    6월 10, 2024 4:43 오후

    Thank you for great content. Hello Administ. Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • cami halısı
    6월 12, 2024 6:58 오전

    Everything is very open and very clear explanation of issues. was truly information.Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • Hacklink
    6월 12, 2024 4:03 오후

    Nice article inspiring thanks. Hello Administ . Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • Cami Halısı
    6월 12, 2024 4:34 오후

    Hi, just required you to know I he added your site to my Google bookmarks due to your layout. But seriously, I believe your internet site has 1 in the freshest theme I??ve came across.Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • 国产线播放免费人成视频播放
    6월 25, 2024 7:42 오전

    Thank you for great content. Hello Administ. Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • hacklink
    7월 2, 2024 8:45 오후

    Everything is very open and very clear explanation of issues. was truly information.Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • Casino
    7월 3, 2024 3:06 오전

    I really love to read such an excellent article. Helpful article. Hello Administ . Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • Sahabet
    7월 4, 2024 6:06 오전

    Thank you for content. Area rugs and online home decor store. Hello Administ . Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • hacklink panel
    7월 4, 2024 6:09 오전

    Everything is very open and very clear explanation of issues. was truly information.Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • Starzbet
    7월 4, 2024 10:30 오후

    Thank you for great content. Hello Administ. Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • Starzbet
    7월 4, 2024 10:30 오후

    After all, what a great site and informative posts, I will upload inbound link – bookmark this web site? Regards, Reader.Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • Starzbet
    7월 4, 2024 10:33 오후

    Everything is very open and very clear explanation of issues. was truly information.Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • Tipobet
    7월 5, 2024 7:28 오후

    I really love to read such an excellent article. Helpful article. Hello Administ . Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • Onwin
    7월 31, 2024 8:47 오후

    Great post thank you. Hello Administ . Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • deneme bonusu
    10월 12, 2024 5:59 오후

    Thank you for great article. Hello Administ .Seo Paketi Skype: By_uMuT@KRaLBenim.Com -_- live:by_umut

  • 카지노 사이트 / 토토 사이트 / 메이저사이트 / 파워볼사이트 / 바카라 사이트 / 슬롯사이트 / 토토사이트 / 카지노사이트 / 먹튀검증가이드 / 파워볼 사이트 / 카지노 사이트 추천 / 에볼루션 카지노사이트