International Game Technology Earnings: Flying High

S&P 500 (NYSE:SPY) component International Game Technology (NYSE:IGT) reported net income above Wall Street’s expectations for the second 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 Second Quarter

Results: Net income for the diversified computer systems company rose to $69.6 million (23 cents/share) vs. $700,000 (0 cents/share) YoY. A substantial increase from the year earlier quarter.

Revenue: Fell 0.4% to $492.3 million YoY.

Actual vs. Wall St. Expectations: IGT beat the mean analyst estimate of 20 cents/share. Estimates ranged from 19 cents per share to 22 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).

Today’s Performance: Shares of IGT are up more than 10% in after hours trading.

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