WMS Industries Profit Falls On Costs, Revenue Tops Estimates

(RTTNews) - WMS Industries Inc. (WMS), a supplier of gaming entertainment products, Thursday reported fourth-quarter net income of $13.5 million or $0.24 per share, compared with $22 million or $0.40 per share last year.

Results for the recent quarter included a $0.04 per share impact for costs related to the pending acquisition of WMS by Scientific Games Corp. (SGMS) and other charges of $0.06 per share. This was partly offset by a $0.03 per share benefit from discrete tax items.

On average, 11 analysts polled by Thomson Reuters expected earnings of $0.31 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter climbed to $203 million from $196 million a year ago. Analysts expected revenue of $196.58 million.

Product sales revenue fell 10.3% from a year ago and unit shipments were down 12.7 percent. Gaming operations revenue was up about 33%.

Results were offset by an increase in total expenses to $183 million from $164 million in the prior year. Operating margin fell to 9.8% from 16.2%.

The company's stock is trading at $25.77, up $0.03 or 0.12%, on a volume of 133 thousand shares on the NYSE.