WMS Industries (WMS) fell 9% after hours following a disappointing fiscal first quarter earnings release.
The slot-machine maker posted 24 cents of EPS, 5 cents worse than expectations. Revenue came in at $155.6 million, against expectations for $170.6 million.
“We already are realizing tangible benefits from our recent restructuring and realignment actions, which we expect will lead to a resumption of quarterly sequential financial growth in the December 2011 quarter and through the remainder of fiscal 2012,” said Chairman and CEO Brian R. Gamache.
Gamache contends that the restructuring and new product approvals should lead to improving results in the next few quarters.
“With our focus on capturing near-term revenue opportunities and an expanding flow of new products being commercialized, we anticipate building on the expected quarterly sequential improvement in December 2011 quarter�s operating results with further quarterly sequential revenue and margin improvement in the second half of this fiscal year that will also reflect a resumption of year-over-year revenue and margin growth in the March 2012 and June 2012 quarters,” Gamache said.
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