Sina Corporation (NASDAQ:SINA) reported a drop to a loss in the third quarter driven by higher costs. Reported a loss of $336.3 million ($5.10 per diluted share) in the quarter. Sina Corporation had a net income of $31.3 million or 48 cents per share in the year earlier quarter. Revenue rose 20.4% to $130.3 million from the year earlier quarter. SINA reported adjusted net income of 26 cents per share. By that measure, the company beat the mean estimate of 16 cents per share. It beat the average revenue estimate of $124.7 million.
“Since the official launch of Weibo.com v4.0 in September, over half of the existing users have upgraded, and we continue to see rapid growth of new users. Our focus now turns to adding more social networking features to Weibo to increase user stickiness,” said Charles Chao, CEO of SINA. “For the third quarter, SINA’s online brand advertising revenues reached a new high, for the first time exceeding over $100 million per quarter,” Mr. Chao added.
Competitors to Watch: Sohu.com Inc. (NASDAQ:SOHU), Baidu.com, Inc. (NASDAQ:BIDU), Google Inc. (NASDAQ:GOOG), Yahoo! Inc. (NASDAQ:YHOO), NetEase.com, Inc. (NASDAQ:NTES), Youku.com Inc (NYSE:YOKU), Shanda Interactive Entertainment Ltd ADR (NASDAQ:SNDA), Rediff.com India Ltd. (NASDAQ:REDF), and AOL, Inc. (NYSE:AOL).
International Game Technology (NYSE:IGT) reported its results for the fourth quarter. 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. 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.
“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.”
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).