GTECH Enjoy Record Profits
By philip
Lottery giants GTECH have achieved staggering profits this year, thanks in no small part to various deals to provide Internet lotteries around the world. Recent contracts with Sri Lanka, Spain and Mexico have helped to cement a record-breaking year for the Rhode Island based company.

'In total, GTECH was awarded 11 new contracts and 10 extensions during fiscal 2004 representing over $1.8 billion in revenues to GTECH over the life of the contracts,' said GTECH President and Chief Executive Officer W. Bruce Turner.

'Fiscal 2004 was a record-breaking year at GTECH. We earned record revenues of $1.051 billion, an increase of seven percent over 2003,' continued Turner. 'Our net income rose 29 percent to $183 million and diluted earnings per share increased approximately 17 percent to $2.84, including the impact of the one-time, non- cash gain in the third quarter. Our gross profit margins also eclipsed all earlier records, at approximately 43 percent.'

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