West Greenwich-based GTECH Holdings Corp. announced Tuesday second-quarter earnings for fiscal year 2005 ended Aug. 28.
“It was another quarter of steady growth and profitability for GTECH,” said GTECH President and Chief Executive Officer W. Bruce Turner in a release. “Total revenues grew approximately 17 percent, quarter-over-quarter, driven by improvements in same-store sales, the benefit of recent acquisitions and strong product sales. We had a successful quarter across all three GTECH vertical markets – lottery, gaming solutions and commercial services.”
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Revenues for the second quarter of fiscal 2005 were $323.5 million, up 16.7 percent over revenues of $277.2 million in the second quarter of fiscal 2004. Net income was $53.1 million, or 40 cents per diluted share, up 9.5 percent over net income of $48.5 million, or 37 cents per diluted share, for the same period last year.
Revenues for the first six months of fiscal 2005 were $603.7 million, up 16.8 percent over revenues of $516.8 million in the first six months of fiscal 2004. Net income was $106.7 million, or 80 cents per diluted share, up 19.2 percent over net income of $89.5 million, or 72 cents per diluted share, for the same period last year. Net income in the first six months of fiscal 2005 includes a net, one-time, after-tax gain of $6.4 million, or approximately 5 cents per diluted share, associated with the sale of the company’s 50 percent interest in Gaming Entertainment (Delaware) LLC.
