US manufacturer IGT has laid off a number of employees.
According to reports this week, the slots company cut another 13 employees worldwide, including some from its Reno headquarters.
"As IGT continues to respond to the needs of the industry, the natural course of business is to seek talent that addresses our company objectives," said Shelle Murach of IGT. "As such, the elimination of some specific roles in our company is a response to the evolving requirements of our business."
In July, the company revealed income from continuing operations for the third quarter to June 30, 2010, was $94.6m, compared with $62.2m in the same quarter last year. For the nine months to June 30, income stood at $189.3m, up from $159.6m for the first nine months of last year.
Consolidated revenues for the third quarter were $489.7m, of which 56 per cent was generated from gaming operations and 44 per cent from product sales, compared with $517.3m for the same quarter last year. For the nine-month period, consolidated revenues were $1.5bn, down from $1.6bn in the same period last year. Consolidated gross profit and operating income for the third quarter were $275.9m and $120.2m, respectively, down from $295.8m and $127m in the previous year.
"Our third quarter results reflect meaningful progress at IGT," the company’s CEO, Patti Hart, said. "Despite challenges in the broader marketplace, we continue to manage our business to increasing levels of efficiencies. Our efforts have resulted in the generation of significant cash flow for reinvestment into the business in areas that create innovative and customer-centric products and services."
