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Slot maker’s earnings increase

Monday, April 30, 2001 | 10:54 a.m.

WMS Industries Inc. of Chicago reported a 56 percent increase in net income for the quarter ended March 31.

The company, one of the gaming industry's largest slot makers, reported net income of $12.7 million, or 39 cents per share, for the quarter, up from $7.7 million, or 25 cents per share, in the year-ago period. Revenues rose 44 percent to $70.7 million, while cash flow increased 62 percent to $24 million.

WMS attributed its gains to strong sales in both machine sales and leases. Machine sale revenue increased 48 percent to $47.9 million, as units sold rose 44 percent to 5,294. Meanwhile, revenues from "participation" slots, such as WMS' "Monopoly" and "Jumble" lines, rose 36 percent to $22.9 million.

WMS now has 5,394 participation slots installed in casinos across the country, up 49 percent from March 31, 2000.

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