West Greenwich-based Gtech Holdings Corp., the world’s
biggest supplier of online lotteries, said fiscal second-quarter
profit rose 27 percent as sales increased. The company raised its
2004 earnings forecast for a second time.
Net income for the period ended Aug. 23 rose to
$48.5 million, or 74 cents a share, from $38.2 million, or
66 cents, a year earlier, Gtech said in a statement, higher than
the 68-cent average estimate of five analysts surveyed by Thomson
Financial.
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Sales rose 25 percent to $277 million from $221 million.
The company expects
earnings of $2.70 to $2.80 a share for the year ending Feb. 28,
higher than its previous forecast of $2.55 to $2.65. It raised
its estimate from $2.40 to $2.50 a share in June. The average
estimate of analysts surveyed by Thomson Financial is $2.64.
Bloomberg News
