UPDATE 1-Slot maker WMS posts 48 pct rise in qtrly profit

LOS ANGELES, Jan 29 (Reuters) -Slot machine maker WMS Industries Inc (WMS.N) said on Thursday its quarterly net income rose 48 percent as it shipped more units and revenue increased.

Fiscal second-quarter profit rose to $23.7 million, or 41 cents per share, from $16 million, or 27 cents per share, in the year-ago quarter.

Analysts, on average, had expected a profit of 36 cents a share, according to Reuters Estimates.

The company said revenue for the quarter rose 12 percent to $178.4 million, beating the average $175.7 million forecast by Wall Street.

Looking ahead, the company said it expects fiscal third quarter revenue of $178 million to $185 million, which fell short of the average analyst estimate of $188.1 million.

Shares of WMS fell 5 percent to close at $24.40 on the New York Stock Exchange before the earnings announcement. (Reporting by Deena Beasley, editing by Leslie Gevirtz)