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Isle of Capri Plunges on Unexpected Q1 Loss

Posted Aug 31st 2010 10:50AM by Elizabeth Harrow (RSS feed)
Filed under: Major Movement, Earnings Reports, Bad News, Technical Analysis

Isle of Capri Casinos (ISLE) took a nosedive right out of the gate Tuesday morning, as traders reacted to the gaming guru's surprise first-quarter loss. Ahead of the open, Isle of Capri confessed that it lost $2.7 million, or 8 cents per share, during the first quarter, down from its year-ago profit of $0.9 million, or 3 cents per share. Revenue for the quarter backpedaled 2.3% to $251.9 million.

Analysts were expecting a much stronger earnings report from Isle of Capri, with Thomson Reuters noting that the average forecast called for a profit of 11 cents per share on $262.5 million in revenue.

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Bears punish Isle of Capri Casinos after disappointing earnings

Posted Aug 26th 2009 2:45PM by Elizabeth Harrow (RSS feed)
Filed under: Major Movement, Earnings Reports, Bad News

Isle of Capri Casinos (NASDAQ: ISLE) is getting hammered today in the wake of its latest earnings report. This morning, the company reported that it swung to a fiscal first-quarter profit of $900,000, or 3 cents per share, while revenue for the period slipped 6.3% to $259.9 million. The results were far worse than expected, with consensus estimates on Wall Street predicting a profit of 13 cents per share on $273 million in revenue.

On the cost-cutting front, ISLE's previously planned departure from the international market is on pace, reported Chairman and CEO James B. Perry. "... we remain on track to exit our international operations in the near term, as we will exit the Bahamas no later than October 31, and expect to exit our remaining UK operations by the end of the calendar year."

Continue reading Bears punish Isle of Capri Casinos after disappointing earnings