LOS ANGELES, Jan 21 (Reuters) - Slot-machine maker International Game Technology posted a 20 percent rise in quarterly profit on Thursday because of cost cuts, sending shares up 5 percent in after hours trading.

For the its fiscal first quarter, the company posted net income of $73.3 million, or 25 cents a share, compared with $61.2 million, or 21 cents a share, a year earlier.

IGT said results from prior periods include new accounting standards adopted in the first quarter of fiscal 2010 -- affecting items such as interest expense, earnings per share, long-term debt and shareholders' equity.

Quarterly revenue fell 14 percent to $515.7 million.

Shares of IGT, which closed at $20.20 on the New York Stock Exchange, were higher at $21.20 after hours.

(Reporting by Deena Beasley. Editing by Robert MacMillan) Keywords: IGT/

(deena.beasley@thomsonreuters.com; 1-213-955-6746)

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