INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC Financials

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INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FORWARD LOOKING STATEMENTS SAFE HARBOR STATEMENT PURSUANT TO SECTION 21E OF THE SECURITIES EXCHANGE ACT OF 1934 This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, or the "Securities Act," and Section 21E of the Securities Exchange Act of 1934 or the "Exchange Act." These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or anticipated results, including those set forth under the heading "Risk Factors" and elsewhere in, or incorporated by reference into, this report. In some cases, you can identify forward looking statements by terms such as "may," "intend," "might," "will," "should," "could," "would," "expect," "believe," "anticipate," "estimate," "predict," "potential," or the negative of these terms. These terms and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from those projected. The forward-looking statements in this report are based upon management's current expectations and belief, which management believes are reasonable. In addition, we cannot assess the impact of each factor on our business or the extent to which any factor or combination of factors, or factors we are aware of, may cause actual results to differ materially from those contained in any forward looking statements. You are cautioned not to place undue reliance on any forward-looking statements. These statements represent our estimates and assumptions only as of the date of this report. Except to the extent required by federal...
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INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC Files SEC form 10-K, Annual Report

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Forward Looking Statements The discussion in this filing contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by forward-looking statements. These risks and uncertainties include dependence on business from foreign customers sometimes in politically unstable regions, political and governmental decisions as to the establishment of lotteries and other wagering industries in which our products are marketed, fluctuations in period-to-period operating results, the absence of significant contract backlog, and other factors described in section 1A. Risk Factors in this Form 10-K. Critical Accounting Policies Use of Estimates Our consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States. Accordingly, we are required to make estimates, judgments and assumptions that we believe are reasonable. We base our estimates on historical experience, contract terms, observance of known trends in our company and the industry as a whole, and information available from other outside sources. Estimates affect the reported amounts and related disclosures. Actual results may differ from initial estimates. The areas most sensitive to estimation are revenue recognition, warranty reserves, inventory valuation, the allowance for doubtful accounts, the amortization period for capitalized software development costs and the deferred tax valuation allowance. Revenue Recognition We recognize revenue by applying various relevant revenue recognition policies depending on the nature of the sale and the terms of the contract. Complete Systems ILTS's complete wagering systems include the point-of-sale terminals, a central computer installation and a comm...
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International Lottery & Totalizator Systems, Inc. Completes Recertification Audit for ISO 9001:2000

VISTA, CA--(MARKET WIRE)--Apr 6, 2009 -- INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS, INC. (ILTS) (OTC BB:ITSI.OB - News) announced the recertification of its Quality Management System to ISO 9001:2000 standards by Underwriters Laboratories, Inc. (UL). The recertification process involved an in-depth assessment of ILTS's entire quality management system by the UL assessor to assure that the Company's quality standards meet the requirements. ILTS was among the first gaming system suppliers to achieve compliance to ISO 9000 guidelines, receiving its first certificate of compliance in 1996.The ISO 9001:2000 Quality Management System standards were developed by the International Organization for Standardization (ISO) with representation from more than 100 countries."Achieving compliance to ISO 9001:2000 requires a dedicated team effort," said ILTS President Jeffrey Johnson. "ILTS is committed to providing our customers with the best products and service possible. Quality is an integral part of our management and work philosophy, and we are proud that this was a successful audit with zero non-conformances found."International Lottery & Totalizator Systems, Inc. provides computerized wagering systems, equipment and services to lottery and racing organizations worldwide. ILTS can be found on the World Wide Web at http://www.ilt...
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INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FORWARD LOOKING STATEMENTS SAFE HARBOR STATEMENT PURSUANT TO SECTION 21E OF THE SECURITIES EXCHANGE ACT OF 1934 This report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This Act provides a "safe harbor" for forward-looking statements to encourage companies to provide prospective information about themselves so long as they identify these statements as forward looking and provide meaningful cautionary statements identifying important factors that could cause actual results to differ from the projected results. All statements other than statements of historical fact, including statements regarding industry prospects and future results of operations or financial position, made in this report are forward-looking. We use words such as "anticipate," "believe," "expect," "future," "intend" and similar expressions to identify forward-looking statements. Forward-looking statements reflect management's current expectations, plans or projections and are inherently uncertain. Our actual results may differ significantly from management's expectations, plans or projections. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly release any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are urged, however, to review the factors set forth in reports that we file from time to time with the Securities and Exchange Commission. The forward-looking statements contained in this filing are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by f...
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International Lottery & Totalizator Systems Receives Order for Additional Intelimark FLX Lottery Terminals From Philippine Gaming Management Corporation

VISTA, CA--(MARKET WIRE)--Mar 12, 2009 -- INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS, INC. (OTC BB:ITSI.OB - News) announced today that the Company has received an order valued at approximately US$1,675,000 from Philippine Gaming Management Corporation (PGMC) for Intelimark FLX lottery terminals. Delivery of the terminals is scheduled to begin in August 2009. "ILTS continues to enjoy a long and successful relationship with PGMC, and we are extremely gratified with their continued confidence in our products and services," said ILTS President Jeff Johnson. "This is the third order of Intelimark FLX terminals placed by PGMC, and will bring the total number of terminals in their network to 3,100."International Lottery & Totalizator Systems, Inc. provides computerized wagering systems, equipment and services to lottery and racing organizations worldwide. ILTS can be found on the World Wide Web at http://www.ilts.com.This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This Act provides a "safe harbor" for forward-looking statements to encourage companies to provide prospective information about themselves so long as they identify these statements as forward looking and provide meaningful cautionary statements identifying important factors ...
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INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC Files SEC form 8-K, Change in Directors or Principal Officers

Show all filings for INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC 20-Feb-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All in...
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INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC Files SEC form 8-K, Change in Directors or Principal Officers

Show all filings for INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC 21-Jan-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All in...
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INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FORWARD LOOKING STATEMENTS SAFE HARBOR STATEMENT PURSUANT TO SECTION 21E OF THE SECURITIES EXCHANGE ACT OF 1934 This report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This Act provides a "safe harbor" for forward-looking statements to encourage companies to provide prospective information about themselves so long as they identify these statements as forward looking and provide meaningful cautionary statements identifying important factors that could cause actual results to differ from the projected results. All statements other than statements of historical fact, including statements regarding industry prospects and future results of operations or financial position, made in this Report are forward-looking. We use words such as "anticipate," "believe," "expect," "future," "intend" and similar expressions to identify forward-looking statements. Forward-looking statements reflect management's current expectations, plans or projections and are inherently uncertain. Our actual results may differ significantly from management's expectations, plans or projections. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly release any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are urged, however, to review the factors set forth in reports that we file from time to time with the Securities and Exchange Commission. The forward-looking statements contained in this filing are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by ...
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