WASHINGTON (dpa-AFX) - Penn National Gaming Inc. (PENN) posted third-quarter net income attributable to the shareholders of the company and subsidiaries of $70.8 million or $0.66 per share, higher than $48.3 million or $0.46 per share reported a year earlier.
Net revenues for the three-month period climbed to $710.9 million from $638.3 milion in the year-ago quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.55 per share on revenues of $711.39 million for the quarter. Analysts' estimates typically exclude special items.
Looking forward to the fourth quarter, Penn National Gaming expects net income attributable to the shareholders of the company and subsidiaries of $49.5 million or $0.46 per share.
Also, the company expects revenues of $671.1 million for the fourth quarter.
Analysts expect the company to earn $0.44 per share on revenues of $671.04 million for the quarter.
For full year 2011, Penn National Gaming now expects net income attributable to the shareholders of the company and subsidiaries of $247.8 million or $2.31 per share, higher than $232.1 million or $2.16 per share expected earlier.
Also, the company now expects revenues of $2.74 billion versus $2.73 billion expected earlier.
Analysts expect the company to earn $2.05 per share on revenues of $2.74 billion for the year.
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