WMS Industries says profits, revenues fall from year earlier
Slot machine maker WMS Industries, which warned investors two weeks ago that its third-quarter earnings would miss expectations, said Tuesday its net income and earnings per share both declined compared with the same quarter a year ago.
WMS, which is headquartered in Waukegan, Ill., said its net income was $24.2 million, or 41 cents per share, for the quarter ended March 31, down from net income of $33 million, or 55 cents per share, a year earlier.
Net revenues declined 2.4 percent to $192.7 million from $197.5 million.
In a statement, WMS CEO Brian Gamache said the results reflected lower-than-expected sales and a delay in new slot machine shipments that took place this month rather than in March.