Some tidbits that weren’t evident from the earnings release and conference call.


  • North American shipment breakdown:
    • The Gun Lake units shipped in the December quarter but were recognized this quarter (650 units)
    • Woodbine Racino in Canada (~235 units)
    • Ocean Downs (300 units)
    • IGT shipped approximately 340 units to Grand Falls in Iowa but the units won’t be recognized until FQ3
  • International shipment details:
    • Asia: 100
    • Australia: 1,000
    • Europe: 500
    • UK: 1,100
    • S. Africa: 200
    • Latin America: 1,800
  • ASP impact of the sale of leased units
    • Patti Hart misspoke on the call; there were just under 500 leased 8960 platform units that were sold in the quarter – not 1,500
    • We estimate that the impact of the discounted units on ASPs was around $245/unit
    • The units were sold from a number of locations
  • SG&A increase
    • Staffing up in the interactive group - $3MM incremental
    • Latin America - $1MM incremental commissions and salaries
    • $1.7MM restructuring charge
    • $3.6MM bad debt expense – which is elevated from the $1.5-2MM
    • High 80s, low 90s or around the same level as this quarter is a good SG&A proxy for the next 2 quarters 
  • D&A
    • Was a little low this quarter but should trend back up a bit
    • $17-18MM per Q is a good run rate
  • New NA shipments will be down in the back half of FY11; especially in 4Q
  • For International, 21-22k for the year is still a good estimate - Galaxy Macau was not in this quarter's #s but will be for next quarter

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