International Game Technology Reports Third Quarter Fiscal Year 2012 Results:
- Revenues increased 13% to $301 million in the third quarter, primarily due to increases in the interactive businesses. Excluding the interactive businesses, revenues were flat.
- Gross margin decreased to 59% from 62% in the third quarter, primarily due to the inclusion of the interactive businesses and lower MegaJackpots® yields.
- Installed base increases were primarily driven by global lease operations growth.
- Excluding the positive impact from the interactive businesses, average revenue per unit per day in the third quarter was $50.20, down 4% sequentially and 7% over the prior year quarter, mainly due to lower MegaJackpots® yields and a higher mix of lower-yielding units in the installed base.
- Double Down bookings per daily user were $0.25 in the third quarter compared to $0.24 in the second quarter subsequent to acquisition.
- Double Down monthly users were 5.2 million as of June 30, 2012, a decrease of 7% when compared to March 31, 2012.
US Dollars (US$) Q3 2010/11 Q3 2011/12
Gaming Operations (inc. Interactive) 267.4m 301.2m
Product Sales 221.6m 231.6m
TOTAL 489.0m 532.8m
IGT’s net income has declined for three straight quarters. In the second quarter, net income fell 11.1% from the year earlier, while the figure fell 33.1% in the first quarter.