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GTECH ANNOUNCES THIRD QUARTER AND NINE-MONTH OPERATING RESULTS

 WEST GREENWICH, R.I., -- Jan. 7 /PRNewswire/ -- GTECH (NYSE: GTK) today reported that revenues for the third quarter of fiscal 1993, which ended Nov. 28, 1992, were $126.4 million. This represents a $36.9 million, or 41.2 percent increase over revenues of $89.5 million for the third quarter of fiscal 1992.
 Net income for the third quarter of fiscal 1993 was $10.1 million, or 23 cents per share, compared with $3.9 million or 11 cents per share for the third quarter a year ago. Comparisons on a pro forma basis, assuming the company's July 1992 initial public offering and the subsequent pay-down of certain long-term debt had occurred immediately prior to the beginning of fiscal 1993 and 1992 respectively, show net income of $10.1 million, a 40.3 percent increase over net income of $7.2 million for the third quarter of fiscal 1992. Pro forma earnings per share for the third quarter of fiscal 1993 were 23 cents compared with 17 cents per share for the same period in fiscal 1992.
 Revenues for the nine months ended Nov. 28, 1992, were $363.2 million which represents an increase of $117.3 million, or 47.7 percent, over revenues of $245.9 million for the same period in fiscal 1992.
 For the first nine months of fiscal 1993, income before extraordinary charges related to the early retirement of debt, net of benefits resulting from a change in accounting for income taxes, was $29.6 million, or 73 cents per share, compared with $11.7 million, or 32 cents per share for the first nine months of fiscal 1992. Pro forma net income for the first nine months of fiscal 1993, reflecting the company's initial public offering and pay-down of debt, was $36.1 million, a 67.8 percent increase over net income of $21.5 million for the first nine months of fiscal 1992. Pro forma earnings per share for the same periods were 83 cents and 51 cents, respectively.
 GTECH Chairman Guy B. Snowden commented on the third quarter results, "We are pleased with our third-quarter results, which reflect a pattern of innovation and achievement for GTECH. Since September, we have added new on-line games and services in Texas, Rhode Island, Kansas and California, and have maintained a steady flow of product sales. In addition six lotteries have installed our instant ticket support systems and are receiving the benefits of automation to all of their games."
 GTECH Corporation designs, produces, implements, operates and services computerized networks for government-sponsored or licensed lotteries on five continents. In addition, GTECH Corporation provides a wide variety of instant ticket support services. GTECH currently supplies and/or operates lottery systems for 25 U.S. customers and 33 jurisdictions outside of the United States.
 GTECH Corporation employs approximately 1,000 people in Rhode Island and more than 3,000 worldwide.
 GTECH Holdings Corporation and Subsidiaries
 Condensed Consolidated Statements of Operations
 Three Months Ended-(a) Nine Months Ended-(a)
 Nov. 28, Nov. 23, Nov. 28, Nov. 23,
 1992 1991 1992 1991
 Revenues:
 Services 88.2 61.8 246.5 169.9
 Product sales 38.2 27.7 116.7 76.0
 Total 126.4 89.5 363.2 245.9
 Costs and expenses:
 Costs of services 61.1 40.1 163.0 108.4
 Cost of sales 20.9 14.4 61.6 37.6
 Total 82.0 54.5 224.6 146.0
 Gross profit 44.4 35.0 138.6 99.9
 Income before
 extraordinary
 charges and
 cumulative effect
 of accounting
 change 10.1 3.9 29.6 11.7
 Net income 10.1 3.9 13.5 11.7
 Pro forma net income 10.1 7.2 36.1 21.5
 Pro forma earnings
 per share 23 cents 17 cents 83 cents 51 cents
 ----
 NOTE: (a) Dollars in millions except per share amounts.
 -0- 1/7/93
 /CONTACT: Craig Watson of GTECH, 401-392-1000/
 (GTK)


CO: GTECH Corporation ST: Rhode Island IN: SU: ERN

TM -- NE002 -- 2540 01/07/93 09:44 EST
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Date:Jan 7, 1993
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