IGT reports widespread growth in first quarter
International Game Technology (IGT) has praised its “compelling” content and technology solutions after experiencing year-on-year growth across various key financials in the first quarter.
Revenue in the three months to March 31 amounted to $1.21bn (€1.03bn), up 5% on $1.15bn in the corresponding period last year.
Operating income rose 65% year-on-year from $119m to $197m, while adjusted operating income was also up 6% from $238m to $251m.
Elsewhere, adjusted earning before interest, tax, depreciation and amortisation improved 18% from $371m to $436m, although net debt was also up by 2% to $7.53bn.
Adjusted net income per diluted share for the quarter stood at $0.15, down 48% on $0.49 in the opening three months of 2017.
Marco Sala, chief executive of IGT, said: “Compelling content and technology solutions are driving our results; lottery same-store revenue growth was among the highest levels in the last several quarters, even in our largest markets.
“A sharp increase in systems sales, double-digit growth in global gaming machine replacement unit shipments, and sequential improvement in the North America installed base confirm the good momentum of our global Gaming business.
“The positive underlying contribution from each of our operating segments provides a strong start to the year.”
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