International Game Technology Q3 EPS Plunges, Lifts FY EBITDA View

(RTTNews) - International Game Technology (IGT) Thursday said its third-quarter attributable profit plunged to $7.13 million from last year's $76.16 million. Earnings per share plunged to $0.04 from $0.44.

Adjusted earnings per share totaled $0.41, while it was $0.54 last year.

Total revenue increased to $1.22 billion from last year's $937.92 million, reflecting GTECH's acquisition of legacy IGT.

Analysts expected earnings of $0.31 per share on revenues of $1.27 billion.

The company incurred Research and development expenses of $85.86 million in the quarter, compared to $29.69 million last year.

Including the $30 million reclassification of certain legacy IGT items in the first quarter of 2015, the company updated its outlook for pro forma, adjusted EBITDA in 2015 to $1.605-$1.705 billion from the prior range of $1.575-$1.675 billion.