Isle of Capri Casinos (ISLE) Reports In-Line Q2 EPS

Isle of Capri Casinos (NASDAQ: ISLE) reported Q2 EPS of $0.19, in-line with the analyst estimate of $0.19. Revenue for the quarter came in at $236.3 million versus the consensus estimate of $242.08 million.

Capital Structure and Capital Expenditures

As of October 25, 2015, the Company had:

• $60.2 million in cash and cash equivalents, excluding $9.8 million in restricted cash and investments;
• $958.6 million in total debt; and
• $190 million in net line of credit availability.

Capital expenditures were $33.2 million in the six months ended October 25, 2015, including $28.8 million of maintenance and gaming equipment purchases as well as spending related to the hotel renovations in Bettendorf and Boonville. We have spent $4.4 million to date this fiscal year on the previously announced up to $60 million land-based project at Bettendorf. For the project to date, we have expended $6.6 million.

Consistent with previous guidance, the Company continues to expect total capital expenditures for fiscal 2016 of approximately $100 million to $105 million, inclusive of approximately $45 million to $50 million of capital spending this fiscal year related to the land-based casino build out in Bettendorf.

For earnings history and earnings-related data on Isle of Capri Casinos (ISLE) click here.

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