The first three months of 2008 was a time of lower profits and slower growth for many companies in the gaming industry but WMS Industries bucked the trend and reported records in both net income and new unit shipments. The company yesterday announced new record financial results for its Fiscal 2008 fourth quarter and full year ended 30 June 2008. Total revenues for Fiscal 2008 grew 20% to US$650.1 million and net income rose 38% to a record US$67.5 million. Fourth quarter highlights included a record quarterly net income of US$21.6 million from total revenues of US$185.6 million, also a quarterly record.

For the first time in company history product sales gross margin was 50% in the three months to 30 June 2008. Gaming operations revenue rose 33% in the fourth quarter and 41% for the full year to a record US$104.4 million. Brian R Gamache, Chairman and Chief Executive Officer, said, “WMS’ record new unit shipments and gaming operations revenues for the fiscal 2008 fourth quarter and full year periods underscore the continued strength and industry appeal of our innovative, differentiated product portfolio and put a strong exclamation mark on our results for Fiscal 2008.”

He added, “Reflecting our expectations for continued profitable growth, we are initiating fiscal 2009 total revenue guidance of a range of US$712-to-US$728 million, or 10%-to-12% growth over fiscal 2008 revenues, and fiscal 2009 first quarter revenue guidance of US$145-to-US$150 million. Our ability to overcome a challenging replacement cycle and soft economy in North America reflects the player popularity and solid global demand for our products, which consistently generate high returns for our casino customers.” (E-08.06.08)

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