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Gtech Quarterly Report
Monday March 16,2015 : INTERACTIVE MAKES A USEFUL CONTRIBUTION TO GTECH Q4
But Italian revenue from the division slips 7 percent.
The interactive division of Italian gaming technology and lottery provider GTech made a useful contribution to its fourth quarter results released this week, showcasing overall interactive revenue of Euro 28 million - up 7 percent.
American and International interactive contributions were both up strongly, whilst interactive product sales soared almost three-fold to Euro 1.7 million. Unfortunately, that success did not extend to the group's home nation, where interactive gaming revenue slipped 7 percent to Euro 18.5 million.
Management characterised the overall performance of the GTech group as robust, with quarterly revenue up 4.7 percent y-o-y to Euro 809.5 million, and earnings reaching Euro 281 million, a 6.7 percent improvement on the corresponding quarter last year.
Despite this, a net loss of Euro 92.8 million was recorded for the quarter and attributed to costs associated with GTech's forthcoming multi-billion dollar acquisition of International Game Technology. Stripping out those costs, net income was up an impressive 83 percent to Euro 53 million.
In common with the interactive results, operations in America and in the international business arena were strong, with revenues from the Americas up 10 percent to Euro 252 million, and a 34 percent rise in International revenues, which reached Euro 113 million, mainly from Europe.
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