IGT Reports Slight Gain in First Quarter Earnings

International Game Technology announced today operating results for the first quarter ended December 31, 2007.

Consolidated revenues and gross profit for the quarter were $645.8 million and $366.5 million, respectively, compared to $642.3 million and $352.0 million in the prior year quarter. Consolidated gross margins for the first quarter came in at 57%, up from 55% in the prior year quarter. Net income in the first quarter totaled $113.7 million or $0.36 per diluted share, compared to $121.0 million and $0.35 per diluted share in the prior year quarter.

The company cited growth in the Oklahoma market for their increase casino operations placements, which were up 4,500 units.

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