International Game Technology First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component International Game Technology (NYSE:IGT) will unveil its latest earnings on Tuesday, January 24, 2012. International Game Technology is a global gaming company that designs, manufactures and markets electronic gaming equipment and systems products.

International Game Technology Earnings Preview Cheat Sheet.

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 22 cents per share, a rise of 4.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 24 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 23 cents during the last month. For the year, analysts are projecting profit of $1.06 per share, a rise of 14% from last year.

Past Earnings Performance: Last quarter, the company beat estimates by one cent, coming in at net income of 24 cents a share versus the estimate of profit of 23 cents a share. It marked the fourth straight quarter of beating estimates.

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Wall St. Revenue Expectations: On average, analysts predict $487 million in revenue this quarter, a rise of 4.8% from the year ago quarter. Analysts are forecasting total revenue of $2.1 billion for the year, a rise of 7.1% from last year’s revenue of $1.96 billion.

Analyst Ratings: Analysts are bullish on this stock with 11 analysts rating it as a buy, none rating it as a sell and six rating it as a hold.

A Look Back: In the fourth quarter of the last fiscal year, profit rose more than twofold to $53.4 million (17 cents a share) from $19.9 million (7 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 9.1% to $539.8 million from $494.7 million.

Key Stats:

A year-over-year revenue increase in the fourth quarter of the last fiscal year snapped a streak of three consecutive quarters of revenue declines. Revenue fell 0.1% in the third quarter of the last fiscal year, 0.4% in the second quarter of the last fiscal year and 9.9% in the first quarter of the last fiscal year.

Competitors to Watch: WMS Industries Inc. (NYSE:WMS), Shuffle Master, Inc. (NASDAQ:SHFL), Multimedia Games, Inc. (NASDAQ:MGAM), GameTech International (NASDAQ:GMTC), Scientific Games Corp. (NASDAQ:SGMS), Bally Technologies Inc. (NYSE:BYI) and Gaming Partners Intl. Corp. (NASDAQ:GPIC).

Stock Price Performance: During December 16, 2011 to January 18, 2012, the stock price had risen $1.35 (8.6%) from $15.64 to $16.99. The stock price saw one of its best stretches over the last year between September 9, 2011 and September 16, 2011 when shares rose for six-straight days, rising 9.8% (+$1.36) over that span. It saw one of its worst periods between February 9, 2011 and February 24, 2011 when shares fell for 11-straight days, falling 10.7% (-$1.88) over that span.

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

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