IGT sees profits rise despite revenue dip

Big news for IGT. Slot machine giant grew profits in the fourth quarter, despite a decline in revenue, the company announced Thursday.

IGT, which is being bought by Italian lottery provider GTECH Holdings for $6.4 billion, said net income for the quarter that ended Sept. 30 was $70.9 million, compared with $64.5 million in the same quarter of 2013. The profits translated into earnings per share of 28 cents, compared with 24 cents a year ago.

IGT’s revenue in the quarter declined 15 percent to $536.5 million.

For all fiscal 2014, IGT said its total revenue declined 12 percent to $2.1 billion.