logo
Plus   Neg
Share
Email

International Game Technology Withdraws 2020 Profit Outlook - Quick Facts

International Game Technology PLC (IGT) announced the company is withdrawing its previous 2020 outlook due to COVID-19 uncertainty. At March 31, 2020, liquidity totalled $2.2 billion, comprised of $1.5 billion in unrestricted cash and $743 million available under revolving credit facilities.

First quarter adjusted net income per share was $0.08 compared to $0.12, previous year. Adjusted EBITDA was $309 million, down 26%. Consolidated revenue was $940 million, down 18% from prior year.

"We've taken swift actions across all non-essential costs and are now switching our focus to structural cost savings initiatives. At the same time, we have adopted strict measures to preserve liquidity in the current environment," said Max Chiara, CFO of IGT.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Polaris Industries Inc. is recalling certain Ranger and General Utility, as well as All-Terrain vehicles citing risks of crash, the U.S. Consumer Product Safety Commission said in a statement. The Medina, Minnesota-based company has called back about 26,730 units of Model Year 2019 - 2020 Ranger XP 1000 & Model Year 2020 General XP 1000 Utility vehicles. Gilead Sciences Inc. (GILD) said Friday that the European Commission has granted conditional marketing authorization for Veklury or remdesivir as a treatment for SARS-CoV-2 infection, the virus that causes COVID-19. FedEx is asking NFL team Washington Redskins to change its name for its racist connotations. The delivery services company, which is a major sponsor for the team, made the suggestion following increasing pressure from its investors amid the ongoing protests against racial injustice and inequality that arose from the killing of African-American George Floyd.
Follow RTT