- IGT now expects FY14 (ends Sep. '14) EPS of $1-$1.10, below prior guidance of $1.28-$1.38 and a $1.20 consensus. FQ2 guidance is for EPS of $0.17-$0.19, below a $0.29 consensus. (PR)
- The gaming machine maker says it saw "a sharp decline in North American gross gaming revenues," and "further degradation in the international currency, compliance, and importation environment."
- IGT also says it's cutting 7% of its 5K-employee workforce. The cuts are expected to yield cost savings of $50M/year. Nonetheless, the company will continue spending $200M/year on R&D.
- CC at 8:30AM ET tomorrow.