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Article: Las Vegas Sands 1Q Profit Falls
- Article from:
- AP Online
- Article date:
- May 3, 2007
CopyrightCopyright 2007 Associated Press/AP Online. This material is published under license from the publisher through YellowBrix, Alexandria, Virginia. All inquiries regarding rights should be directed to YellowBrix. (Hide copyright information)
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LAS VEGAS - Las Vegas Sands Corp., the casino company run by billionaire Sheldon Adelson, said Wednesday its net profit for the first quarter fell 25 percent from a year ago, saying expenses increased due to planned casino openings in Macau, Singapore and the United States.
Net income dropped to $90.9 million, or 26 cents per share, compared to $121.8 million, or 34 cents a share, a year ago. Revenue grew 18.5 percent to $628.2 million.
After excluding one-time items, adjusted net income for the quarter ended March 31 was 32 cents per share, down from 38 cents a share a year earlier.
Analysts polled by Thomson Financial projected a first-quarter adjusted net income of 32 cents per ...