WMS Industries revenues rise, but net profits slide

Slot machine manufacturer WMS Industries, which is the process of being acquired, grew revenues in third quarter but a decline in net profits.

The company reported net income of $13.5 million and earnings per share of 24 cents for the quarter that ended June 30. Overall revenues were $202.8 million, a 4 percent increase compared with the same quarter in 2012.

WMS is being acquired by lottery systems provider Scientific Games in a $1.5 billion buyout that was announced in January. The deal is expected to close sometime this year.

WMS Chairman Brian Gamache said in a statement that player demand for some of the company’s new slot machines helped increase the company’s sales.

“Our investments in research and development during the last several years have supported the development of great new products, games and innovative new gaming experiences that deliver substantial value for our casino customers and have set WMS on a path for renewed long-term growth,” Gamache said.

Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871. Follow @howardstutz on Twitter.