LOS ANGELES Nov 8 International Game Technology
reported better-than-expected fourth-quarter earnings on
strong sales of replacement slot machines and sharply higher
interactive revenues, sending its shares up 8 percent in
The slot machine company also provided a fiscal year 2013
forecast for adjusted earnings from continuing operations of
$1.20 to $1.30 per share, which topped analysts estimates.
Analysts on average had projected the company next year to
post adjusted earnings of $1.14 a share, according to Thomson
Shares of IGT rose 8 percent in after-hours trade to $13.85
a share from a close of $12.83 a share.
0n a conference call with analysts, IGT Chief Executive
Patti Hart said the solid quarter and year reflected the
strength of its core business as well as the successful
leveraging of its $500 million acquisition of Double Down, one
of the largest social gaming operations on Facebook.
Double Down games are free, but the platform provides
revenues through the sale of virtual gaming chips.
IGT said adjusted fourth-quarter earnings per share from
continuing operations rose 58 percent to 38 cents. Adjusted
income from continuing operations rose 40 percent to $101.9
million. Fourth-quarter revenues rose 17 percent to $631
Analysts on average had forecast the company to post
adjusted earnings of 32 cents a share, according to Thomson
During the quarter, IGT said its revenues from social
gaming was $35.8 million, up 20 percent sequentially from the
third quarter, primarily driven by an increase in both daily
active users and bookings per daily active user.
IGT has also been embedding the DoubleDown Casino
application on the websites of casino operators that use its
During the fourth quarter, IGT said daily active users of
its social gaming products totaled 1.4 million while the number
of monthly users totaled 5.1 million.
The average user spent 28 cents per day on the DoubleDown
site, which was 8 percent higher than the third quarter.
In the fourth quarter, IGT sold 8,500 replacement slot
machines, an increase of 67 percent.