Isle of Capri Casinos lost money in its fiscal fourth quarter, dragged down by a charge tied to the pending sale of a Mississippi property and other costs. Adjusted results topped analysts’ expectations, and its stock climbed in premarket trading.
The company lost $124.8 million, or $3.20 per share, for the period ended April 29. That compares with a profit of $10.9 million, or 28 cents per share, a year ago. Loss from continuing operations was $13.5 million, or 35 cents per share, compared with a gain of $8.4 million, or 22 cents per share, last year.
Without the $112.6 million charge and other items, earnings were 38 cents per share. Earnings of 31 cents per share were forecast by FactSet.
Revenue rose 11 percent to $294.9 million from $264.9 million, buoyed by gains in Colorado, Florida, Louisiana, Mississippi and Missouri. That beat the $277.6 million that Wall Street expected.