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International Game Technology profit beats consensus by 41.2% in Q4

International Game Technology PLC said its normalized net income for the fourth quarter was 73 cents per share, compared with the S&P Capital IQ consensus estimate of 52 cents per share.

EPS increased 25.2% year over year from 59 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $148.8 million, a gain of 26.7% from $117.5 million in the prior-year period.

The normalized profit margin increased to 11.3% from 8.6% in the year-earlier period.

Total revenue decreased on an annual basis to $1.32 billion from $1.36 billion, and total operating expenses decreased from the prior-year period to $1.14 billion from $1.18 billion.

Reported net income increased from the prior-year period to $234.5 million, or $1.15 per share, from $75.0 million, or 37 cents per share.

For the year, the company's normalized net income totaled 89 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.98.

EPS rose from 29 cents in the prior year.

Normalized net income was $179.2 million, a rise from $56.5 million in the prior year.

Full-year total revenue increased 9.9% on an annual basis to $5.15 billion from $4.69 billion, and total operating expenses rose 10.3% on an annual basis to $4.43 billion from $4.01 billion.

The company said reported net income totaled $212.3 million, or $1.05 per share, in the full year, compared with a loss of $75.0 million, or a loss of 39 cents per share, the prior year.