International Game Technology Q1 Profit Decreases, but beats estimates

(RTTNews) - International Game Technology (IGT) revealed earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $23 million, or $0.11 per share. This compares with $79 million, or $0.39 per share, in last year's first quarter.

Excluding items, International Game Technology reported adjusted earnings of $0.49 per share for the period.

Analysts on average had expected the company to earn $0.38 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.0% to $1.06 billion from $1.05 billion last year.

International Game Technology earnings at a glance (GAAP) :

-Earnings (Q1): $23 Mln. vs. $79 Mln. last year. -EPS (Q1): $0.11 vs. $0.39 last year. -Analyst Estimates: $0.38 -Revenue (Q1): $1.06 Bln vs. $1.05 Bln last year.

-Guidance: Next quarter revenue guidance: $1.0 Bln Full year revenue guidance: $4.1 - $4.3 Bln