WMS Industries earnings soar

CHICAGO -- Chicago-based slot manufacturer WMS Industries Inc. today reported second-quarter net income of $15.6 million, or 51 cents a share, compared with a $1.2 million net loss in the year-ago period.

Revenue rose to $54.8 million in the Dec. 31, 1999, quarter from $30.1 million a year earlier, bolstered by sharp increases in machines sales and gains in placement of participation games.

Six-month net rose was $10.8 million, or 36 cents a share, compared with a $2.9 million net loss in fiscal 1999's first half. Revenue rose to $106 million from $51.9 million.

Results for the latest quarter and six months include a one-time gain of $8.2 million, or 26 cents a share, related to settlement of lawsuits. The fiscal 2000 first-half net also reflects a charge of $13.2 million, or 44 cents a share, related to discontinued pinball-machine operations.

WMS said placement of its popular Monopoly-themed slots rose 10 percent in the three months ended Dec. 31 from Sept. 30.

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