Slotmaker posts improved earnings

Monday, Nov. 6, 2000 | 10:11 a.m.

WMS Industries Inc. of Chicago reported net income of $9.5 million, or 30 cents per share, for the quarter ending Sept. 30.

In the year-ago quarter, WMS reported a net loss of $4.7 million, or 15 cents per share. Excluding one-time charges, income from continuing operations was $9.8 million, or 31 cents per share, up 11 percent on a net income basis and 7 percent on a per-share basis.

Revenues rose 25 percent to $59.8 million, while cash flow increased 10 eprcent to $18.3 million.

WMS attributed its revenue growth to a 12 percent increase in slot units sold in the quarter, to 4,559 units. That number included 1,200 slots sold to the California market, where Indian gaming became legal earlier this year. WMS also saw a 35 percent increase in installed "Monopoly" slots, to 4,024 units.

WMS is the nation's second-largest manufacturer of slot machines.

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