Question-and-Answer Session
Operator
(Operator instructions) Our first question comes from David Katz of Oppenheimer.
David Katz – Oppenheimer
Hi, good morning.
T. J. Matthews
Good morning.
Patrick Cavanaugh
Good morning, David.
David Katz – Oppenheimer
Good morning. So – and I’ll apologize if I missed a couple of the details here. But have you broken out – of the 5,500 units that were sold, how many of those were new versus replacement?
Patrick Cavanaugh
We did, David. The replacement number was 1,800.
David Katz – Oppenheimer
1,800, great. Now, within the installed base I noticed over the last couple of quarters you have been breaking out sort of fixed versus variable. And I think in the past we may have looked at leased versus more pure participation. Are those essentially the same breakouts? Because I think we were sort of running numbers slightly differently from how you have broken them out fixed versus variable.
Patrick Cavanaugh
They are, David. We are just – because we are kind of unusual in our industry and that we have the highest concentration of variable fee games. If you look at most of our competitors, they have a much larger proportion of their installed base that’s either on a fixed basis or variable with a cap on it. So we are much more sensitive to play levels, and that’s very good. So it’s a good news, bad news story. The bad news is we have to suffer through these downturns and softer play levels. The good news is, as things improve, you see that leveraged greatly through our P&L.
David Katz – Oppenheimer
Right. Okay. I think I’m good for now. I’ll circle back. Thanks.
Patrick Cavanaugh
Okay. Thanks, David.
Operator
Our next question is from Robin Farley of UBS.
Robin Farley – UBS
Great, thanks. I have two or three questions. First is that new guidance range, when you say it excludes restructuring charges, does that new guidance range add back any of the other adjustments that you have broken out in the course? Or is restructuring the only thing that’s being added back to get that $0.75 to $0.85 level.
Patrick Cavanaugh
Yes, just restructuring, Robin.
Robin Farley – UBS
Okay, great. That’s helpful. And few other questions. One is your SG&A, maybe we would expect it to be down a little bit more given the cost season. Maybe you can just give us a little color on where those SG&A levels will sort of level out going forward? And then lastly, if you can talk about – with CityCenter, kind of when you expect to ship to CityCenter and what kind of market share you are expecting to get there? Thanks.
- To read the full transcript on Seeking Alpha, click here »
