Scientific Games Corp. (SGMS) Monday reported fourth-quarter net loss of $24.7 million or $0.29 per share, compared with $8.5 million or $0.09 per share last year.
Revenues for the quarter were up 4% at $249 million, compared with $239 million a year ago.
Analysts polled by Thomson Reuters estimated earnings of $0.05 per share on revenues of $237.15 million for the quarter. Analysts' estimates typically exclude special items.
"We benefited from solid lottery retail sales, not only in the U.S. but also notably in Italy, where instant ticket sales grew 3.9%," the company said.
Results for the quarter were hurt by increased expenses, notably depreciation and amortization that jumped to $64.5 million from $30.7 million a year ago.
Looking ahead, the company expects the first half of the year to start off more slowly, but anticipates momentum to accelerate as the year progresses.
In January, Scientific Games agreed to acquire WMS Industries Inc. (WMS), a supplier of gaming machines, for about $1.5 billion. In connection with the deal, the company expects to incur regulatory costs and other expenses of $4 million to $6 million in the first quarter 2013, with additional costs to be incurred throughout the balance of 2013.
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