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