Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Melco Crown Entertainment Q1 Profit Surges - Quick Facts

RELATED NEWS
Trade MPEL now with 

Melco Crown Entertainment Ltd.'s (MPEL: Quote) first-quarter GAAP net income attributable to the company jumped to $122.1 million or $0.221 per ADS from $7.2 million, or $0.013 per ADS last year, as a result of the enhanced gaming and non-gaming operating performance at City of Dreams, reduced non-operating expenses, including lower net interest costs, partially offset by the amortization of land use right at Studio City and higher fixed asset depreciation across all operating assets. Quarterly net income per share was $0.074, significantly higher than $0.004 a year earlier.

On average, 5 analysts polled by Thomson Reuters expected earnings per share of $0.17 for the quarter. Analysts' estimates typically exclude one-time items.

Net loss attributable to non-controlling interests for the quarter of $3.6 million was related to Studio City, the company added.

Net revenue for the recent quarter was $1.03 billion, an increase of around 27% from $806.6 million for the comparable period in 2011, mainly attributable to improvements in the mass market table games segment, as well as improvements in rolling chip and non-gaming revenues at City of Dreams. Six analysts estimated revenues of $1.02 billion for the quarter.

Register
To receive FREE breaking news email alerts for Melco Crown Entertainment Ltd and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
United Nations Secretary-General Ban Ki-moon on Tuesday urged both Israelis and Palestinians to stop the fighting that has been raging for the past two weeks in the Gaza Strip, and pleaded with the two sides to return to dialogue with the aim of addressing the underlying causes of the repeated cycles... After moving notably higher in early trading on Tuesday, stocks continued to perform well throughout the session. The gains on the day offset the modest weakness that was seen in the previous session, extending the recent back-and-forth movement by the markets. Two federal appeals courts have issued contradictory rulings over the federal government's ability to provide subsidies under Obamacare, suggesting that the future of President Barack Obama's healthcare law could once again end up in the hands of the U.S. Supreme Court.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.