GTECH Q2 core earnings inch lower as sales drop slightly
MILAN, July 31
MILAN, July 31 (Reuters) - Italian gaming group GTECH said on Thursday core earnings inched down in the second-quarter, hit by lower sales and a strong comparison period last year that was boosted by a significant order in Canada.
The Rome-based group, which recently sealed a deal worth $4.7 billion to buy Las Vegas-based IGT, said earnings before interest, tax, depreciation and amortisation (EBITDA) fell 2.4 percent to 266.6 million euros ($357 million) in the second quarter. Sales fell 1.4 percent to 751.1 million euros.
The group said in March it was targeting higher revenues of 3.15-3.25 billion euros for the whole year, up from 3.06 billion euros in 2013. Core earnings are expected in the range of 1.06-1.1 billion euros in 2014.
GTECH did not comment on the guidance in Thursday's statement. ($1 = 0.7469 Euros) (Reporting by Agnieszka Flak, editing by Isla Binnie)