International Game Technology Reports Fourth Quarter and Fiscal Year 2007 Results
biz.yahoo.com
Thursday November 1, 7:30 am ET
RENO, Nev., Nov. 1 /PRNewswire-FirstCall/ -- International Game Technology (NYSE: IGT) announced today operating results for the fourth quarter and fiscal year ended September 30, 2007.
Net income for the fiscal year increased to $508.2 million or $1.51 per diluted share compared to $473.6 million or $1.34 per diluted share in the prior year. Fourth quarter net income totaled $122.6 million or $0.38 per diluted share versus $114.9 million or $0.33 per diluted share in the same quarter last year.
Fiscal year financial highlights:
-- Record total revenues of $2.6 billion, up 4%, and related gross profit
up 8% from the prior year
-- Record gaming operations installed base of 59,200 machines at the end
of the fourth quarter, up 19% over prior year end
-- Record gaming operations revenues of $1.4 billion, up 9%, and related
gross profit up 13% from the prior year
-- Record non-machine sales of $384.2 million, up 6% from the prior year
-- Record Adjusted EBITDA totaling $1.1 billion, up 10% from the prior
year
-- Record diluted earnings per share of $1.51, up 13% from the prior year
"IGT achieved another record year in 2007, led by record revenue and placements of our gaming operations machines. Non-machine sales also reached record levels as our business model continues to evolve towards a greater focus on software and systems," said Chairman and CEO TJ Matthews. "Adjusted EBITDA reached $1.1 billion, and we generated a record level of cash flow from operations. All of these accomplishments, coupled with the strength of our balance sheet, allowed IGT to return $1.3 billion to shareholders in the form of stock repurchases and dividends in fiscal 2007." |
