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

Quick Facts

Editors Pick
Toyota Motor Corp. (TM, TYT.L) Thursday announced 1.1 percent decline in worldwide production for October, as there was a sharp decline in production of passenger cars in Japan. Production outside Japan improved 2.3 percent. In a separate announcement, the Japanese automaker said it will recall more... Computer and printer maker Hewlett-Packard Co. said Tuesday after the markets closed that its fourth quarter profit fell 6% from last year, as revenue declined 2%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. This organic and natural products company has experienced strong compounded annual growth over the last four fiscal years with its net sales growing 25% and adjusted income from continuing operations over 30%.
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.