October 27, 2009 / 2:53 PM / 10 years ago

CORRECTED - CORRECTED-(OCT 26)-UPDATE 1-Scientific Games Q3 profit in line w

(Corrects Oct. 26 story throughout to clarify that Scientific Games’ Q3 profit was in line with analysts estimates, not ahead of them. Excluding one-time items but including stock-based compensation expenses, the company earned 18 cents a share, not 24 cents)

* Q3 adj EPS 18 cents vs est 18 cents

* Q3 rev $239.1 mln vs est $237.9 million

* Says CEO to retire at year-end, names new CEO

Oct 26 (Reuters) - Lottery operator Scientific Games Corp (SGMS.O) posted a quarterly profit in line with market estimates, and said its chief executive would retire at the end of 2009.

The company said its Chief Executive Joseph Wright will retire but continue on the board, and named Michael Chambrello as its new CEO.

The company, which makes lottery tickets, gaming machines and pre-paid mobile phone cards, earned $15.1 million, or 16 cents a share, compared with $22.2 million, or 23 cents a share, a year ago.

Excluding exceptional items, it earned 18 cents a share, while revenue fell 18 percent to $239.1 million.

Analysts on average had expected a profit of 18 cents a share, before special items, on revenue of $237.9 million, according to Thomson Reuters I/B/E/S.

Operating expenses fell 21 percent to $138.3 million.

Shares of the New York-based company, which have gained 15 percent in the last 6 months, closed at $17.70 Monday on the New York Stock Exchange. (Reporting by Vidya Lakshmi in Bangalore; Editing by Gopakumar Warrier)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below