Station Casinos Beats Big

The gaming company posts record numbers in the fourth quarter.

Author:: TSC Staff
Publish date:: Jan 24, 2005 9:23 AM EST

Station Casinos

kicked off the gaming industry's fourth-quarter earnings season Monday with a record performance.

Including items, the Las Vegas-based gaming company reported net income of $38 million, or 55 cents a share, vs. a loss of 8.6 million, or 14 cents a share, a year ago.

Excluding items, Station, which primarily targets local residents at its Las Vegas casinos and hotels, said adjusted earnings were 58 cents a share, vs. 42 cents a share a year ago.

Analysts expected the company to earn 51 cents a share, according to Thomson First Call.

Revenue rose to $264.7 million, up 15% from a year ago.

Looking ahead, the company expects EBITDA-based income of approximately $107 million to $113 million and EPS of 56 cents to 62 cents, excluding items, in the first quarter. Analysts expect 55 cents a share.

In premarket trading, shares were at $57.40, up $1.75, or 3.1%.