This excerpt taken from the WMS 10-K filed Sep 9, 2005.
We face risks associated with doing business in foreign markets related to political and economic instability and related foreign currency fluctuations.
We seek to grow through increasing our presence in foreign markets. Potential political and economic instability in foreign markets may adversely affect our ability to enter into or continue to do business in these markets. Unstable governments and changes in current legislation may affect the gaming market with respect to gaming regulation, taxation, and the legality of gaming in some markets. In addition, fluctuations in foreign exchange rates, tariffs and other barriers may further impede our success in foreign markets. Our business in foreign markets is subject to the risks customarily associated with such activities. As of June 30, 2005, we had $35.4 million of trade accounts and notes receivable from customers in countries outside of the United States, most of which are denominated in U.S. dollars. We do not enter into foreign exchange contracts to hedge our exposure to foreign exchange rate fluctuations. We cannot assure you that foreign markets will remain politically and economically stable enough to continue as a potential source of revenues and profit to us.