International Game Technology Posts Loss In Q2 - Quick Facts

(RTTNews) - International Game Technology PLC (IGT) reported a second quarter net loss attributable to company of $117 million or a loss per share of $0.59. On an adjusted basis, net income was $70 million or $0.35 per share.

On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.28 for the quarter. Analysts' estimates typically exclude special items.

In the second quarter of prior year, the company reported net income to company of $55.2 million or $0.32 per share. The company noted that a number of items affect the comparability of its reported results, as a result of the merger.

On a reported basis, adjusted EBITDA of $427 million was 32% above the second quarter of 2014. On a pro forma, constant currency basis, EBITDA was in line with the prior year period.

Reported operating income was $116 million, compared to $171 million in the second quarter of 2014. On a pro forma, constant currency basis, adjusted operating income increased 3%.

Reported consolidated revenue grew 36% to $1.29 billion from $945 million in the second quarter of 2014, reflecting GTECH's acquisition of legacy IGT. On a pro forma, constant currency basis, consolidated revenue increased 1%. Analysts expected revenue of $1.30 billion, for the quarter.

The company's Board has initiated a quarterly cash dividend of $0.20 per ordinary share. The first cash dividend is payable on September 10, 2015 to shareholders of record as of the close of business on August 26, 2015.

Looking forward, the company said it expects pro forma adjusted EBITDA of $1.575 -$1.675 billion in fiscal 2015.