RENO, Nev. (AP) -- Reno-based International Game Technology reports profits fell 50 percent in the fourth-quarter because of the slumping economy and investment write-downs.

For the three months ending Sept. 30, the world's largest maker of slot machines and casino systems reports net income of $52.1 million, or 18 cents per share, compared with $122.6 million, or 38 cents per share, in the same quarter last year.

Analysts surveyed by Thomson Reuters had anticipated earnings of 31 cents per share.
Excluding $28.6 million, or 10 cents a share, on investment write-downs, the company's adjusted earnings totaled 27 cents per share for the quarter.

Total revenues of $632 million slightly exceeded the expectations of Wall Street.

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