NEWS: Isle of Capri Casinos returned to a profit in its fiscal second quarter, helped by a favorable ruling on litigation in Greece. But its adjusted results and revenue missed analysts’ estimates.
The stock fell in Tuesday morning trading.
DETAILS: The St. Louis-based casino operator reported an increase in casino revenue as well as in revenue from hotel rooms. It also saw an increase in money spent on food and drinks. The company was more promotional in the current quarter.
NUMBERS: For the three months ended Oct. 27, Isle of Capri Casinos Inc. earned $8 million, or 20 cents per share. That compares with a loss of $6.7 million, or 17 cents per share, a year earlier.
Stripping out the benefit from the favorable ruling in Greece, Isle of Capri posted a loss from continuing operations of 17 cents per share for the latest quarter. Analysts, on average, expected a smaller loss of 4 cents per share, according to a FactSet poll.
Revenue increased 8 percent to $241.6 million from $223.2 million. Wall Street predicted higher revenue of $247.3 million.
STOCK: Down 16 cents, or 2 percent, to $7.72 in morning trading. The shares are up 41 percent for the year to date.
