On Thursday, International Game Technology announced that it had earned $52.1 million in the fourth quarter, less than half of what it earned during that same period last year, which was $122.6 million.
For the fiscal year ending Sept. 30, net income was reported as $342.5, substantially lower than the $508.2 it brought in last year.
Thomas J. Matthews, chairman and chief executive of IGT, said in a prepared statement that the company’s fiscal results “reflect challenging economic operating conditions affecting our customers and in turn our business.”
“Despite these challenges, we remained focused on key business initiatives,” he added.