Gtech Third-Quarter Revenue, Earnings Down From Year-Ago

Gtech Holdings(GTK Quote) met expectations for the third quarter, but revenue and income fell from the year-ago period.

The lottery systems operator, which is based in West Greenwich, R.I., reported net income of $18.3 million, or 53 cents a share, in line with expectations, according to First Call/Thomson Financial, which carried an estimate from only one analyst. The company recorded net income of $22.8 million, or 65 cents a share, in the third quarter a year ago.

Service revenue fell 3.3% to $213.8 million from $221.1 million. For the fiscal year, the company expects to earn $2.07 to $2.10 a share.

Shares of Gtech were recently trading up 19 cents, or 1%, to $19.31 on the New York Stock Exhange.