WEST GREENWICH, R.I. — Lottery giant GTECH Holdings Corp. reported lower first quarter earnings this morning, pointing to the depreciation of foreign currencies against the U.S. dollar and a change in the company’s customer mix.
GTECH posted a first quarter profit of $19.1 million, or 62 cents per diluted share, compared to $20.2 million, or 58 cents a share, during the year-ago period.
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Revenues for the period were $235 million, compared to $242 million during the same period last year. GTECH said it reduced operating expenses to $38.7 million, compared to $47 million a year ago.
The company said it expects it will earn 52 to 54 cents per share, excluding special charges, for the second quarter. During the second quarter last year, the company posted earnings of 18 cents per share.
