Melco Crown Entertainment Q1 Profit Declines, Results Miss View - Quick Facts

(RTTNews) - Melco Crown Entertainment Limited (MPEL) reported that its first-quarter net income attributable to the company declined to $60.63 million or $0.11 per ADS from $239.54 million or $0.43 per ADS in the year-ago period.

Adjusted earnings per ADS were $0.16, compared to $0.45 in the same period last year.

Net revenue for the quarter declined 22 percent to $1.05 billion from $1.36 billion in the year-ago period. The decline in net revenue was primarily attributable to lower group-wide rolling chip revenues and mass market table games revenues.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share for the quarter on revenues of $1.08 billion. Analysts' estimates typically exclude special items.