“(NYSE: BYD) reported fourth-quarter and full-year 2012 results before markets opened this morning.
For the quarter the casino operator reported an adjusted earnings per share (EPS) loss of $0.31 and $625.8 million in revenues. In the same period a year ago, the company reported an EPS loss of $0.03 on revenue of $606.7 million. Fourth-quarter results also compare to the Thomson Reuters consensus estimates for an EPS loss of $0.13 and $635.37 million in revenue.
On a GAAP basis, Boyd posted a quarterly EPS loss of $10.24, compared with a GAAP net loss of $0.01 in the fourth quarter of 2011. The quarterly loss was mostly due to a $994 million impairment charge on the 87-acre site of Boyd’s planned Echelon development in Las Vegas. The company also announced this morning that it has sold its Echelon site on the Las Vegas Strip to a Malaysian gambling group for $350 million in cash.
For the full year the company reported an adjusted EPS loss of $0.28 on revenues of $2.489 billion. The consensus estimates called for a full-year EPS loss of $0.11 on revenues of $2.5 billion….”
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