RENO, NEVADA – International Game Technology (IGT), the American game designer and manufacturer, has announced its Q3 results and its net incomes dropped significantly as compared to the same period last year.
IGT, who recently acquired Las Vegas-based Cyberview Technology Incorporated, reported a slip of US$28.1 million this quarter as compared to last year, same period. Last year, IGT reported net incomes of US$136.4 million while this year, it only netted US$108.3 million.
Furthermore, the previous nine months’ net income this year only peaked US$290.5 million as compared to US$385.6 million for the same period in 2007.
IGT Chairman and CEO Thomas Matthews commented:
“Although the market environment continues to be impacted by unfavourable economic conditions, IGT delivered strong revenues and gross profits during the third quarter.”
He furthered that IGT has improved its server-based gaming initiatives with new models of the company’s Advanced Video Platform and the acquisitions of mobile games developer and operator Million-2-1 and Cyberview Technology. IGT also owns onlinge gaming software provider Wagerworks.
Matthews also announced that IGT has repurchased 14.6 million of its own shares since April this year.
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