Wynn Resorts Falls Slightly After Q1 Results

Wynn Resorts

released its fiscal first-quarter earnings results after the closing bell on Monday. The company reported GAAP net income attributable to the company of $140.6 million or $1.23 per share, compared to $173.8 million or $1.39 per share, in the year ago period. Adjusted net income for the quarter was $152.0 million or $1.33 per share, versus $173.4 million or $1.38 per share, in last year's first quarter. This compared to Wall Street analysts' consensus EPS estimates of $1.41. Net revenues for the quarter were $1.314 billion compared to $1.260 billion in last year's corresponding quarter. This came in just below Street consensus revenues of $1.33 billion. Wynn also announced the approval of a $0.50 per share cash dividend which will be payable on June 4, 2012 to stockholders of record on May 21, 2012. In Monday's after hours trading session, WYNN shares have lost 2.35% to $122.06.