WASHINGTON (dpa-AFX) - International Game Technology (IGT) Tuesday said its second-quarter profit from continuing operations declined to $62.4 million or $0.21 per share from $67.7 million or $0.22 per share in the year-earlier quarter. Both earnings and revenues came in above analysts' expectations.
Adjusted earnings from continuing operations were $79.5 million or $0.27 per share, up 17 percent from $67.7 million or $0.22 per share last year.
On average, 19 analysts polled by Thomson Reuters expected the company to earn $0.25 per share for the second quarter. Analysts' estimates typically exclude special items.
Second-quarter revenues increased 13 percent to $541.2 million from $477.0 million last year. Analysts expected revenues of $517.4 million for quarter.
Looking ahead, the company lifted its fiscal year 2012 guidance. The company currently expects earnings to range from $0.98 per share to $1.04 per share for the fiscal year 2012. Analysts currently expect the company to earn $1 per share for the period.
The company closed Tuesday's regular trade at $15.90, down 1.79 percent. In after hours, the stock traded at $16.52, up 3.90 percent.
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