IGT Seeing Spike in Profits

RENO, Nev. (AP) - International Game Technology reports third quarter profit rose 20 percent, driven by strong product sales and growth in gaming operations.

The Reno-based company, which designs and makes computerized gaming machines and systems, saw earnings climb to $136.4 million, or 41 cents per share. That compares with $114.1 million, or 33 cents per share, in the prior year.

Analysts surveyed by Thomson Financial had forecast net income of 39 cents per share.

The company reports North American product sales, which had lagged in recent quarters, increased to $212.6 million versus $187.2 million a year ago.

International product revenue was up $42 million dollars for the quarter over last year.

(Copyright 2007 by The Associated Press. All Rights Reserved.)