Yesterday WMS Industries reported financial results for its fiscal 2009 third quarter ended 31 March 2009. Total revenues increased to a fiscal third quarter record of US£180.8 million, with average daily revenue rising 10% to a quarterly record of US$70.37 per participation unit. Total gross profit grew 16% to a record US$117.3 million and operating margin rose 21.1%.

“WMS’ 17th consecutive quarter of double-digit year-over-year earnings growth reflects our company-wide focus on product innovation and operational excellence, which generated yet again another quarter of revenue growth and margin expansion,” said Brian R. Gamache, Chairman and Chief Executive Officer. “With the broad, balanced product and operational success being achieved in fiscal 2009, we are well positioned for continued top and bottom line growth in fiscal 2010 and beyond.”

“Our operating execution is outpacing the challenging environment and is driven by the consistency of our high-return, high-earning games that are embraced by players and our casino customers worldwide,” Gamache continued. “These factors combined with our emphasis on continuous improvement resulted in a 21% operating margin and a quarterly record $38.2 million in operating income, which further bolstered our strong balance sheet.”

The fact that WMS continues to perform well despite the economic downturn is, according to Gamache, due to the company’s ability to deliver high-revenue generating products to its customers providing a clear competitive advantage in any economic environment. “The Company’s consistent operating momentum and solid cash flow over the last several years enables us to continue to manage our investments in high-return initiatives, including self-funding the development of unique, technology-enabled gaming experiences to further our market penetration.” (E-04.20.09)

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