VIP & VIP+
Exclusive Content   Join Now

MIXED RESULTS AT GTECH

Jun 20, 2001 8:25 PM

GTech reported an increase in net income per share for the first fiscal quarter of 2002, which ended May 26.

Rhode Island-based GTech, the world's largest lottery company, announced that net income per share was up 4 cents to 62 cents, compared with the same period last year. Total net income dipped from $20.2 million to $19.1 million.

Product sales were up from $19.4 million to $24.4 million.

Overall revenues were down 3 percent, however, from $242 million to $235 million. Service revenues were down 5 percent to $210.6 million, which the company attributed to the effects of a strong U.S. dollar overseas, lower jackpot activity and the creation of competing national lotteries in the Ukraine and Colombia.