International Game Technology PLC Third Quarter 2016 Results

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International Game Technology PLC Third Quarter 2016 Results

International Game Technology (IGT) Declares Quarterly Cash Dividends for its Third Quarter

For its third quarter and nine-month fiscal report, International Game Technology has declared a quarterly cash dividend of $.20 per ordinary share. The company’s Board of Directors confirmed that key performances for the 12-week period included operating income increasing by 26% to $164 million, adjusted operating income showing strength by rising by 9% to $286 million and gaming service revenues taking a small dip by 17.5% to $66 million.

“We achieved broad-based growth across regions in the third quarter and our financial condition is strong. Higher profitability enabled us to maintain our leverage ratio despite the significant interest and tax payments of the quarter. Based on our performance to date, we remain comfortable with our adjusted EBITDA outlook for the full year,” Alberto Fornaro, chief financial officer of IGT commented.

The company also reported that their net loss per diluted share earned $.45 per share on an adjusted basis. Net income that was attributable to IGT on an adjusted basis rose by 6% to $90 million. Consolidated revenues increased as well by 5% to $1,266. This figure represents the fourth straight quarter over the year-on-year reports regarding the company’s growth.

  • Revenues up 5% to $1,266 million on strong lottery growth and higher gaming product sales
  • U.S. GAAP Net loss was $2 million;
  • adjusted Net income was $90 million-
  • Adjusted EBITDA up 4% to $430 million-
  • Cash dividend declared of $0.20 per ordinary share

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