WASHINGTON (dpa-AFX) - Penn National Gaming, Inc. (PENN) announced a fourth quarter net profit attributable to the shareholders of $44 million or $0.41 per share compared to a loss of $153.1 million or $1.97 per share last year.
On average, 18 analysts polled by Thomson Reuters expected earnings per share of $0.49 per share for the quarter. Analysts' estimates typically exclude one-time items. Revenue for the quarter increased to $676.5 million from $630.2 million a year ago. Wall Street was expecting revenue of $677.78 million for the quarter. Peter Carlino, chairman and chief executive officer of Penn National Gaming said, 'We're pleased to report that fourth quarter and full year 2011 revenue, adjusted EBITDA and earnings, excluding impairment charges from our Freehold JV, tracked slightly ahead of guidance.' Looking ahead to the first quarter, the company expects net income of $59.5 million or $0.56 per share. Net revenue for the quarter is expected to $682.8 million. Analysts are looking for $0.57 per share on revenue of $708.19 million.
For the full year the current outlook is for net income of $236.2 million or $2.22 per share. Revenue outlook for the fiscal $2.79 billion. Wall Street expects $2.26 per share. The company said its current outlook and guidance for 2012 contemplates a continuation of the trends experienced in 2011.
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