International Game Profit Climbs

Slot machine and video lottery provider International Game Technology (IGT Quote) posted fourth-quarter profits on Thursday that were nearly twice as much as a year ago.

The Reno, Nev., company reported fourth-quarter earnings of $105.4 million, or 30 cents a share, almost double the $54.3 million, or 15 cents a share, in the same quarter last year. The company said the hurricane-related casino closings along the Gulf of Mexico reduced earnings by about 2.6 cents a share.

Last year's results included a $77 million charge related to the early redemption of senior notes and favorable tax adjustments involving foreign income tax credits.

Revenue totaled $607.6 million, down from $621.7 million a year ago.

"Although the company faced difficult domestic marketplace conditions," said Chairman and CEO T.J. Matthews, in a statement, "IGT delivered meaningful accomplishments this year."

Shares of International Game were rising $1.58, or 6%, to $27.60.