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Casino News:

  Analysis of WMS

LAS VEGAS, Nevada -- The WMS industries, Slot machine maker said on Thursday that the company has noticed a down fall in the second quarter revenues and profits as comparing to the same time of a year ago but as far as the first quarter is considered they have shown a reasonable increase.

The company, that is based in Waukegan, Ill., says that the issues that plagued its financial performance last year are in the past.

"Soon after the beginning of the second half of fiscal 2011, we have certainly to realign our products plans to address near to the term customer needs and revenue opportunities, redirect resources to support the commercialization of new products and right size the organization to match recent operating conditions to position WMS for a return to growth," company Chairman and CEO Brian Gamache said in a statement.

The company also reported of having an income of nearly $16.1 million, or 29 cents per share, in the quarter that ended Dec. 31, down from net income of $27 million, or 46 cents per share, a year earlier.

However, in the quarter that ended Sept. 30, WMS executives pointed out, the company earned 7 cents per share.

"We expect quarterly consecutive improvements in revenues and operating margin to boost in the second half of fiscal 2012," Gamache said.

WMS had revenues of $162.2 million in the second quarter, down 18.9 percent from $199.9 million a year earlier. In the quarter that ended Sept. 30, WMS had revenues of $155.6 million.


   2012-01-28






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