Penn National Gaming Q4 Loss Narrows

(RTTNews) - Penn National Gaming, Inc. (PENN) reported that its fourth-quarter net loss narrowed to $250.41 million or $3.18 per share, from $888.75 million or $11.40 per share in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly net revenues grew to $651.36 million from $644.70 million in the prior year. Wall Street expected revenues of $639.20 million.

The company expects net income of 9.4 million and $0.10 per share, net revenues of $670.6 million for the first-quarter of fiscal 2015. Analysts project first-quarter earnings of $0.09 per share and net revenues of $655.45 million.

Looking ahead for fiscal 2015, the company projects net income of $41.3 million and $0.46 per share, and net revenues of $2.742 billion. Analysts expect annual earnings of $0.42 per share and net revenues of $2.72 billion.