Int'l Game Technology Reports Fiscal 4Q Loss

OSKAR GARCIA

LAS VEGAS (AP) — International Game Technology on Thursday posted a fiscal fourth-quarter loss, but said it thinks demand for its slot machines and casino management systems has stabilized.

The company posted a loss of $21.3 million, or 7 cents per share, compared with a profit of $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 one-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.

The Reno, Nev.-based company said it recognized 4,200 sales in North America during the quarter, including 3,800 replacement units.