International Game Technology Q1 Profit Plunges, Shares Down

(RTTNews) - International Game Technology (IGT) Tuesday reported first-quarter net income of $35.0 million or $0.14 per share, down sharply from $79.2 million or $0.31 per share last year.

Adjusted earnings for the quarter dropped to $0.19 per share from $0.25 per share last year.

Revenues for the quarter dropped 17 percent to $450.6 million from $541.2 million last year.

Analysts polled by Thomson Reuters expected the company to earn $0.25 per share on revenues of $487.61 million for the quarter. Analysts' estimates typically exclude special items.

IGT shares slipped $0.71 or 4.17% in after-hours trading.