WMS Industries Q4 Profit Down

(RTTNews) - WMS Industries Inc. (WMS) reported that its fourth-quarter net income declined to $13.5 million or $0.24 per share, from $22.1 million or $0.40 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.31 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter rose to $202.8 million from $195.9 million in the prior year quarter. Eleven analysts had consensus revenue estimate of $196.58 million for the quarter.

The latest-quarter results include a $0.04 per share impact for costs related to the pending acquisition of WMS by Scientific Games Corporation (SGMS) in selling and administrative expenses and $0.06 per diluted share for net charges in interest income and other income and expense, net, primarily related to foreign currency losses due to the devaluation of the Argentina Peso to the U.S. dollar. This impact was partially offset by a $0.03 per diluted share benefit from discrete tax items, principally due to the conclusion of a prior year's federal income tax audit.