Analyst cuts forecast for slot maker
Wednesday, Nov. 19, 2003 | 9:47 a.m.
SYDNEY, Australia -- Aristocrat Leisure Ltd. the world's second-largest slot machine maker, today had its profit forecast cut by Merrill Lynch & Co., after Tuesday saying second-half earnings in Australia and the United States will fall.
Aristocrat will probably report a net loss of A$15.5 million ($11.2 million) in the year to Dec. 31, including A$37.2 million of charges, said Merrill Lynch analyst Paul Facey, who has a "neutral" recommendation on the stock.
Facey lowered his profit forecast before charges by 2.2 percent to A$21.7 million. He raised his estimates for the following two years by 3.6 percent and 4 percent on better-than-expected earnings in Europe.
Aristocrat shares fell 12 cents, or 6 percent, to A$1.88 at 10:59 a.m. today in Sydney, extending Tuesday's 16 percent decline. The stock has fallen 60 percent this year, the worst performance on the benchmark S&P/ASX200 index.
archive
- Most Read
- Discussed
- Most E-mailed
- Pinnacle CEO resigns after meeting confrontation
- As earnings fall, Riviera unsure if bankruptcy can be avoided
- Trial set for parents of boy, 4, who died in hot vehicle
- Scientology foe’s arrest raises issue of rights
- Wynn Resorts to begin paying shareholder dividend
- Las Vegas home prices, sales rise in October
- Miguel Cotto camp says big cut in June fight an asset now
- NY-NY sues Calif. man alleging trademark infringement
- If you can rebuild the whole car, then why not allow an engine change?
- Cada cherishes moment as poker’s youngest champ
Blogs
The Kats Report
Of tanking, drugs and 'Slim': In 'Open,' Andre Agassi beats the odds
Robin Leach's Las Vegas Celebrity Watch
Who are the Final Four on Dancing With the Stars?
Politics: Ralston's Flash
Drugs bring Nevada governor, first lady back together (3 Comments)
Elsewhere
Macau's gambling industry faces nightmare of water rationing (3 Comments)
Top Chef: Las Vegas
Top Chef Odds Week 11: And then there were six
Politics: The Early Line
Rep. Berkley livens health care debate with story of her own (1 Comment)
Now and Then
Wranglers to face familiar foe and that's putting it mildly
Calendar »
- 11 Wed
- 12 Thu
- 13 Fri
- 14 Sat
- 15 Sun
-
Days of the New at Wasted Space
Wasted Space | 10 p.m. to 11:59 p.m.
-
DJ Boris at Godskitchen
Body English | 10:30 p.m. to 11:30 p.m.
-
Holding on to Sound at Beauty Bar
Beauty Bar | 10 p.m. to 11:59 p.m.
-
Rockabilly Wednesay at Revolution Lounge
Beatles Revolution Lounge | 10 p.m. to 11:59 p.m.
The Sun
Locally owned and independent for more than 50 years.
Technorati












