International Game Technology (IGT) reported adjusted earnings of 19 cents per share during fiscal 2009 fourth quarter, compared to a net income of 28 cents in the year-ago quarter. The result topped the Zacks Consensus Estimate by 3 cents.  In the quarter, the company recorded non-cash charges of approximately $77.2 million, or 26 cents per share to give effect to a reduction in the carrying value of its investment in Walker Digital Gaming Inc. These charges also included a decline in the value of its Las Vegas Gaming International investment and foreign deferred tax provision.  Total revenue fell 18.6% to $514.6 million from the year-ago quarter, primarily due to weakness in product revenue (45% of total revenue), which fell 23.2% to $231.4 million, while units shipped worldwide decreased 30% year-over-year. Revenue from Gaming Operations (55% of total revenue) decreased 14.4% year over year to $283.2 million due to the lower play ...

Gaming equipment maker Bally Technologies Inc. (BYI) posted fiscal 2010 first-quarter results yesterday after the closing bell. The company recorded net income of $30.6 million, or 53 cents per share, compared to $30.3 million, or 52 cents in the year-ago period. The results matched the Zacks Consensus Estimate. Bally Technologies is a leading gaming systems company, which designs, manufactures, operates and distributes advanced gaming devices, systems and technology solutions worldwide. The company's product line includes reel-spinning slot machines, video slots, wide-area progressives and class II, lottery and central determination games and platforms. The company also offers casino management, slot accounting, bonusing, cashless and table-management solutions and also operates the Rainbow Casino in Vicksburg, Mississippi. The Las Vegas-based company’s sales slipped 17.2% year over year to $196.5 million. The decline was the results of weakness in North American gaming machine replacement market as customers continue to slash ...

International Game Technology (IGT) today announced that it would record a non-cash charge of approximately $78 million, or 26 cents per share in the fourth quarter to give effect to a reduction in the carrying value of its investment in Walker Digital Gaming Inc. In August, the company reconsidered its partnership with Walker Digital Gaming.   The company also expects to record about $13 million in charges related to a decline in the value of its Las Vegas Gaming International investment. IGT will also take into consideration $15 million of additional tax provisions.   The company said that the charges reflect its initiatives to review strategic investments and partnerships that focus on its gaming content, to increase the efficiency of its capital resources. These charges will severely affect the company’s margins and earnings.   International Game Technology is a leader in slot machine distribution and manufacturing.  IGT sells ...