Both revenues and income fell for WMS Industries Inc. (WMS) during the three months that ended on March 31.
The company reported revenues of $176 million, down some 9 percent from last year’s $192.7 million.
Net income fell to $22.1 million or $0.40 per share from the $24.2 million or $0.42 reported a year ago.
Analysts had expected revenues to be $189.9 million with income to come in at $0.43 per share.
As for the coming quarter, the company was not very encouraging. The company said it expected revenues “to be modestly lower than the year-ago period. “The challenging economic and industry environment will continue” the company said in a statement, adding it could last for the remainder of the calendar year.