Slot machine maker WMS sees decline in quarterly revenues
Slot machine maker WMS Industries experienced a decline in revenues in the fourth quarter, but grew both profits and earnings per share, thanks to higher margin slot machine sales.
The company, headquartered in Waukegan, Ill., said net revenues for the quarter were $195.9 million, a decline of 3.5 percent. However, net income for WMS was $22.1 million, or 40 cents per share. In the same quarter a year ago, the company had net income of $10.3 million, or 18 cents per share.
“We have returned to a normalized rate of new product introductions,” WMS Chairman Brian Gamache said in a statement.
He said the company improved sales of new slot machines, including games to replace older machines, to casinos in the United States and Canada.