Boyd Gaming Corp. (BYD) reported GAAP net loss of $7.3 million, or $0.08 per share, for the first quarter 2013, compared with a profit of $5.9 million, or $0.07 per share, for the year-ago period. Adjusted earnings for the recent quarter were $0.45 million, or $0.01 per share. On average, 16 analysts polled by Thomson Reuters expected loss per share of $0.07 for the quarter. Analysts' estimates typically exclude one-time items.
The company reported net revenues of $737.0 million, up 16.4% from $633.1 million in the same quarter in 2012. Analysts estimated revenues of $734.19 million for the quarter.
Boyd Gaming's Chief Executive noted, "We saw positive momentum across our operations in March, driving first-quarter results that were ahead of our previous expectations. We were particularly encouraged by improvements in our Las Vegas Locals business, as we were able to generate EBITDA growth for the first time in more than a year."
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