Slot machine maker sees its profits decline in third quarter

7 May 2013

By Howard Stutz

Slot machine maker WMS Industries Incorporated saw its profits decline in the third quarter, company representatives said Monday.

The Illinois-based manufacturer, which is being acquired by lottery equipment provider Scientific Games in a $1.5 billion buyout, said its net income for the quarter that ended March 31 was $7.5 million, or 14 cents per share. In the same quarter a year ago, WMS reported net income of $22.1 million, or 40 cents per share.

The company grew total revenues 1 percent to $177.9 million.

The sale to Scientific Games is expected to close this year.