The casino game equipment producer’s earnings of 25 cents per share for the first quarter ended December 31, 2009 is up from 21 cents per share in the same quarter the year prior. This beat analyst estimates of 20 cents per share, according to Thomson Reuters data.
First-quarter revenue fell to $515.7 million, missing analyst expectations of $531 million, primarily due to lower play levels and growth in the use of lower-yielding lease machines, according to an IGT press release. Revenue was also lower than last year’s $601.6 million for the first quarter.
"Our first quarter results reflect measured progress in numerous aspects of our business, despite continued challenges in the broader marketplace," said IGT CEO Patti Hart in the release.