Isle of Capri Casinos returns to profitability
December 08, 2009 2:11 AM
by Ray Poirier
Despite a one percent drop in revenues, Isle of Capri Casinos Inc. (ISLE) reported a return to profitability during the three months that ended on Oct. 25.
Revenues during the period reached $247.6 million resulting in a profit of $1.6 million or $0.05 per share. Last year, the company had revenues of $249.6 million and a loss of $13.5 million or $0.43 per share.
The improvement was credited to lower operating expenses and reimbursed development costs. These development reimbursements amounted to $6.8 million and resulted from activities in Pittsburgh, Pennsylvania.