Isle Of Capri Turns To Profit In Q2 - Quick Facts

(RTTNews) - Isle of Capri Casinos Inc. (ISLE), Tuesday posted a profit in its second quarter, with increase in revenues. The company said the results were favorably impacted by a judicial ruling on litigation in Greece, in which the company reversed a $14.7 million litigation accrual, of which $7.3 million reduced operating expenses and $7.4 million reduced interest expense.

For the three-month period, the company reported net income of $8.03 million or $0.20 per share,compared with a loss of $6.65 million or $0.17 per share last year. The last year results included a loss of $0.06 per share from discontinued operations.

Excluding special items, the company said, loss from continuing operations for the fiscal 2014 quarter would have been $0.17 per share. On average, ten analysts polled by Thomson Reuters expected the company to report loss per share of 0.05 for the quarter. Analysts' estimates typically exclude one-time items.

Net revenues rose to $241.6 million, from prior year's $223.2 million. Analysts expected the company to report revenues of $247.11 million for the quarter.