International Game Technology Earnings Cheat Sheet: Revenue Grows After Four Straight Declines, Net Income Rises

S&P 500 (NYSE:SPY) component International Game Technology (NYSE:IGT) reported its results for the fourth quarter. International Game Technology is a global gaming company that designs, manufactures and markets electronic gaming equipment and systems products.

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International Game Technology Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for the diversified computer systems company rose to $53.4 million (18 cents per share) vs. $19.9 million (7 cents per share) in the same quarter a year earlier. This is a more than twofold rise from the year earlier quarter.

Revenue: Rose 8.8% to $539.8 million from the year earlier quarter.

Actual vs. Wall St. Expectations: IGT reported adjusted net income of 24 cents per share. By that measure, the company beat the mean estimate of 23 cents per share. It beat the average revenue estimate of $484.8 million.

Quoting Management: “I am pleased with the performance of our business as we closed out fiscal year 2011, especially related to cash flow generation and increased operating margins,” said Rockwell Collins Chairman, President and Chief Executive Officer Clay Jones. “Commercial Systems continued to realize strong revenue growth and rapidly expanding operating margins, while Government Systems sustained its robust operating margins in the face of modestly declining sales.”

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 4 cents in the third quarter, by 3 cents in the second quarter, and by one cent in the first quarter.

Looking Forward: For next quarter, analysts have a more positive outlook about the company’s expected results. The average estimate for the first quarter of the next fiscal year is 24 cents per share, up from 23 cents ninety days ago. The average estimate for the fiscal year has remained at 93 cents per share.

Competitors to Watch: WMS Industries Inc. (NYSE:WMS), PokerTek, Inc. (PTEKD), Shuffle Master, Inc. (NASDAQ:SHFL), Multimedia Games, Inc. (NASDAQ:MGAM), GameTech International (NASDAQ:GMTC), Scientific Games Corp. (NASDAQ:SGMS), NanoTech Entertainment, Inc. (NTEK), Bally Technologies Inc. (NYSE:BYI), Gaming Partners Intl. Corp. (NASDAQ:GPIC), and Ainsworth Game Tech. Ltd. (AGI).

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)