Boyd Swings To 3Q Profit; Year-Ago Hurt By Hefty Impairment

Boyd Gaming Corp. is reporting a third-quarter profit, with a hefty charge on the sale of its South Coast Hotel and Casino.

The Las Vegas-based casino operator reported a profit of $31.8 million, or 36 cents per share.

That compares with a loss of $12.9 million, or 15 cents per share, in the same quarter in 2006.

Income from continuing operations rose to $31.9 million, or 36 cents per share, from $28.1 million, or 32 cents per share.

Excluding pre-opening charges for the Echelon resort complex on the Las Vegas Strip and other items, adjusted earnings from continuing operations dipped to $38.4 million, or 43 cents per share, from $38.8 million, or 44 cents per share.

Analysts surveyed by Thomson Financial expected net income of 42
cents per share.

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