WMS Industries Inc., the Illinois-based gaming manufacturer, posted its 2009 first-quarter on Monday showing a total revenue increase of 14 percent to $151 million, which the company said is a record for the first quarter.
The average daily revenue increased 14 percent to a record $68.75 per participation unit. Gross profit margin rose 300 basis points to 63.1 percent, and operating margin increased from 12.7 percent to 16.1 percent. Net income went up 41 percent to $15.7 million or 27 cents per diluted share.
“Our 24 percent increase in first quarter gaming operations revenues and 8 percent improvement in product sales revenues demonstrate the high player appeal and casino operator appreciation for the value of our products, which is especially important in the face of a slow economy and the challenges in the financial markets,” said Brian R. Gamache, chairman and chief executive, in the report.