Gaming company WMS Industries Inc. said Monday that its fiscal third-quarter earnings slid on charges related to its pending acquisition by Scientific Games Corp. and higher costs.
The Waukegan company earned $7.5 million, or 14 cents per share, compared with $22.1 million, or 40 cents per share, a year earlier.
WMS said its earnings were reduced by 9 cents per share from incremental costs related to the Scientific tie-up and another 2 cents due to lost revenue resulting from a law prohibiting the sale of certain gaming terminals. It also spent more to market new interactive games as well as the launch of its Blade and Gamefield game machine models.
Revenue inched higher to $1.779 million from $1.76 million a year ago. WMS said sales were dragged down in part by lower prices on some products.
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WMS Industries agreed to be acquired by Scientific Games in January for $1.5 billion.
WMS shares closed Monday at $25.30, almost triple its value before the acquisition announcement.
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