WMS sees slight uptick in income during second quarter
Slot machine maker WMS Industries reported a slight uptick in the company’s second-quarter net income Tuesday, thanks to a healthy increase in product sales.
The Waukegan, Ill.-based company earned $27 million, or 46 cents per share, in the quarter ended Dec. 31, up from net income of $26.5 million, or 44 cents per share, a year earlier.
WMS grew overall revenues 6 percent to $199.9 million during the quarter, credited to slot machine sales, which increased 12 percent to $127.2 million. The company said it shipped 6,310 games during the quarter and increased the average selling price 8 percent to $16,620 per slot machine.
Analysts consider WMS and Las Vegas-based Bally Technologies as the top two slot machine providers behind market leader International Game Technology.
WMS Chief Executive Officer Brian Gamache said interest in two of the company’s newest slot machine lines helped fuel sales activity during the quarter.
“Reflecting these factors and further operating execution improvements, we are well positioned to maintain our pace of continued progress and profitable growth in the second half of fiscal 2011 and beyond,” Gamache said in a statement.