IGT reported on Thursday a 20% gain in first-quarter earnings, boosted by higher replacement orders. The news sent shares advancing 5% to $21.21 in after-market trading.
During the quarter, the slot-machine maker earned $73.3 million, or 25 cents a share, compared with $61.2 million, or 21 cents, in the year-ago period.
Revenue slipped 14% to $515.7 million from $601.6 million.Gaming technology companies seem to be moving to recovery, as casino operators look to replace out of date machines. Last week, Shuffle Master (SHFL) said it swung to a profit in its fourth quarter. WMS Industries (WMS)is slated to report its quarterly results on Jan. 26. It, too, is up 2.1% to $42.71 after-hours. -- Reported by Jeanine Poggi in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.