WMS Industries Inc.â€™s (NYSE: WMS) Chairman and CEO Brian R. Gamache bought a total of 16,400 shares of WMS common stock at a total value of $247,476, according to a SEC filing made on August 8, 2012.
The purchase comes after WMS this week announced its fourth-quarter financial results. WMS, which serves the gaming industry by designing, manufacturing and distributing games, video and mechanical reel-spinning gaming machines and video lottery terminals to authorized customers in legal gaming venues worldwide, reported an increase in its fourth-quarter profit, driven mainly by lower operating expenses.
WMS reported a profit of $22.1 million, or $0.40 per share, compared to $10.3 million, or $0.18 per share reported for the same period in the previous year.
Analysts were expecting WMS to report earnings of $0.45 per share for the quarter.
WMS Industries revenue for the quarter was $195.9 million, compared to $203.2 million reported for the same period in the previous year. Analysts were expecting WMS to report revenue of $188.82 million for the fourth quarter.
Gamache said earlier this week that quarterly sequential improvements in new unit shipments, and in particular new replacement unit in the U.S. and Canada, along with higher game conversion revenue and growth in the companyâ€™s installed participation base, demonstrate the ongoing process. Gamache said that WMS is achieving in the commercialization of new innovative game content and products.
Looking ahead, WMS expects the general economic environment to remain unchanged in the next twelve months.WMS expects revenue growth in fiscal 2013 to reflect modest growth in product sales ship share in the U.S. and Canada and in the installed participation base, the introduction of innovative new gaming content, platforms and cabinets, an increased contribution from the ongoing commercialization of WMSâ€™s networked gaming system and portal game applications and an increase in revenue from interactive products and services.
WMS shares are currently trading around $16. The stock has a 52-week high of $25.30.
Year-to-date, WMS shares have fallen 22.08%, compared to a gain of 11.55% for the S&P 500.