West Greenwich-based GTECH Holdings Corp. announced yesterday fourth-quarter and year-end earnings for fiscal year 2004 ended Feb. 28.
“Fiscal 2004 was a record-breaking year at GTECH. We earned record revenues of $1.051 billion, an increase of 7 percent over 2003,” said GTECH President and Chief Executive Officer W. Bruce Turner.
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Revenues for fiscal 2004 were $1.05 billion, up 7.4 percent over revenues of $978.8 million in fiscal 2003. Net income was $183.2 million, or $2.84 per diluted share, up over net income of $142 million, or $2.43 per diluted share, for the same period last year.
Revenues for the fourth quarter of fiscal 2004 totaled $279.6 million, up $9.6 million over revenues of $270 million in the fourth quarter of fiscal 2003. Net income was $47.8 million, or 72 cents per diluted share, up 14 percent over net income of $41.9 million, or 72 cents per diluted share for the same period last year.
Net income rose 29 percent to $183 million and diluted earnings per share increased approximately 17 percent to $2.84, including the impact of a one-time, non-cash gain in the third quarter. Gross profit margins eclipsed earlier records, at approximately 43 percent.
