International Game Technology announced a memorandum of understanding with American Vending Sales, Inc. (AVS) naming AVS as the exclusive distributor of IGT products for the upcoming Illinois Video Lottery Market. Under the agreement, AVS will provide IGT's games to operators in the Illinois Video Lottery Market.

International Game Technology - Conference Presentation Calls

International Game Technology reported un-audited consolidated earnings results for the fourth quarter and year ended September 30, 2009. Net loss for the quarter was $21.3 million or $0.07 per diluted share, inclusive of previously disclosed non-cash charges of $0.26 per diluted share and restructuring expense of $0.01 per diluted share. Net income for the same quarter last year was $52.1 million or $0.18 per diluted share, inclusive of non-cash investment write-downs of $0.10 per diluted share. For the quarter ended September 30, 2009, revenues totaled $514.6 million compared to $632.2 million in the prior year. Loss before tax was $7.5 million against income of $103.2 million of previous year period. Adjusted EBITDA was $184.6 million compared to $236.5 million for the year ended September 30, 2008. For the fiscal year, net income was $149.0 million or $0.51 per diluted share, inclusive of the aforementioned fourth quarter charges of $0.26 per diluted share and restructuring expense of $0.07 per diluted share. Net Income for the prior fiscal year was $342.5 million or $1.10 per diluted share. For the year ended September 30, 2009, revenues totaled $2,114.0 million compared to $2,528.6 million in the prior year. For the fiscal year ended September 30, 2009, IGT generated $547.9 million in cash from operations on net income of $149.0 million compared to $486.5 million on net income of $342.5 million in the prior year. Increases in year-over-year cash from operations were primarily the result of reductions in receivable and inventory balances and additional pre-payments for long-term licensing rights in the prior year. Income before tax was $238.0 million against $590.8 million of previous year period. Capital expenditures were $257.4 million compared to $298.2 million for the year ended September 30, 2008. Adjusted EBITDA was $753.5 million compared to $985.3 million for the year ended September 30, 2008. Free cash flow was $169.2 million against $12.7 million of previous year.