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NTEK gaming to partner BYI.........
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Scientific Games to Acquire Bally Technologies in Transaction Valued at $5.1 Billion
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BYI - Bally Technologies, Inc. Reports Adjusted EPS of $1.06 and GAAP Diluted EPS of $0.54 for the Second Quarter of Fiscal 2014
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BYI - Bally Technologies Announces Exclusive Enterprise-Wide Systems Agreement with Australian Leisure and Hospitality Group (ALH)
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BYI - Bally Technologies Announces Enterprise-Wide Systems Agreement with Boyd Gaming Corporation
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BYI - Connect Your Gaming World with Bally Technologies at the ICE Totally Gaming Show Feb. 4-6 in London
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BYI - Bally Technologies to Report its Second Quarter Fiscal 2014 Results on Thursday, February 6 and Host Conference Call and Webc
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BYI - CEM Announces 2013 HOT Award Winners
Four of six awards go to BYI
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BYI - Bally Technologies’ TITANIC Video Slot Game Sweeps Awards at Macao Gaming Show
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BYI - Bally Technologies Announces Systems and Interactive Agreements with SLS Hotel & Casino
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BYI - Bally Technologies, Inc. Completes Acquisition of SHFL entertainment, Inc.
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BYI - Conrad Punta del Este Resort & Enjoy Group Select Bally Technologies as iGaming Platform Provider
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BYI - Bally Technologies Demonstrates Technology That Connects Operators’ Entire Gaming World at the SAGSE Exposition Nov. 12-14
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BYI - Bally Technologies, Inc. Reports Record First-Quarter Revenue of $249 Million and Record Quarterly Diluted EPS of $0.97
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BYI - Bally Technologies Online Games Now Available on Daub Gaming Sites
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BYI - Video - World Record Slot Tournament
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BYI - Bally Technologies And Cantor Gaming® Sign Online Content Agreement
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Bally Technologies, Inc. Reports Record Revenue of $997 Million and Record Diluted EPS of $3.45 for the Year Ended June 30, 2013
Business WirePress Release: Bally Technologies, Inc. – Thu, Aug 15, 2013
Bally Technologies' Chief Financial Officer Neil Davidson. (Photo: Business Wire) <a href="http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50692120&lang=en"> Multimedia Gallery URL</a>View Photo.
Bally Technologies' Chief Financial Officer Neil Davidson. (Photo: Business Wire) Multimedia Gallery URL
Bally Technologies, Inc. (BYI):
•FOURTH QUARTER REVENUE INCREASES TO A RECORD $264 MILLION WITH RECORD DILUTED EPS OF $0.95
•SYSTEMS REVENUE SETS ANNUAL RECORD OF $252 MILLION, INCREASING 19 PERCENT FROM PRIOR YEAR
•WIDE-AREA PROGRESSIVE INSTALLED BASE GROWS 38 PERCENT AND SETS RECORD ANNUAL REVENUE
Bally Technologies, Inc. (BYI), a leader in slots, video machines, casino management, interactive applications, and networked and server-based systems for the global gaming industry, today announced record quarterly diluted earnings per share (“Diluted EPS”) of $0.95 and record quarterly revenue of $264 million for the three months ended June 30, 2013. Diluted EPS was a record $3.45 on record annual revenues of $997 million for the year ended June 30, 2013.
“Fiscal 2013 was a truly momentous year in Bally’s history,” said Ramesh Srinivasan, the Company’s President and Chief Executive Officer. “We made enormous progress in many different ways, including continued growth in wide-area progressive (“WAP”) units, record Gaming Operations revenue, significant success in new markets like Canada, Illinois, and South Africa, establishing new revenue records in Systems while setting up Systems for further growth in the years ahead, and the launch of Bally content in regulated online jurisdictions. These achievements position us well for continued growth in fiscal 2014 and beyond.”
Srinivasan added, “The planned acquisition of SHFL entertainment will position us even better as an innovative end-to-end gaming solutions provider. We remain steadfastly focused on executing well in our core business and are looking forward to this September’s Global Gaming Expo, where we will demonstrate our industry-leading cross-platform solutions for games, systems, and interactive. We will also demonstrate how well positioned and ready we are to connect operators’ gaming worlds through a single view of the player.”
“Bally remains unwavering in its commitment to shareholder value, as demonstrated by the 38 percent two-year Diluted EPS compound annual growth rate, among many other critical metrics,” said Neil Davidson, the Company’s Chief Financial Officer. “The growth and stability of our revenues that are recurring in nature continue to provide significant financial flexibility. With the planned acquisition of SHFL entertainment we now expect to utilize the majority of our excess free cash flow to repay debt. Since June 30, we have paid down an additional $45 million on our revolving credit facility placing our leverage at 1.7x.”
Fiscal Year 2013 Highlights
Three Months Ended June 30,
Year Ended June 30,
2013
%
Rev
2012
%
Rev
2013
%
Rev
2012
%
Rev
(dollars in millions, except per share amounts)
Revenues:
Gaming Equipment $ 88.7 34 % $ 96.8 39 % $ 339.8 34 % $ 310.7 35 %
Gaming Operations 102.8 39 % 93.7 38 % 405.0 41 % 357.4 41 %
Systems 72.9 27 % 55.3 23 % 252.2 25 % 211.7 24 %
Total revenues $ 264.4 100 % $ 245.8 100 % $ 997.0 100 % $ 879.8 100 %
Gross Margin:
Gaming Equipment (1) $ 44.0 50 % $ 44.8 46 % $ 170.6 50 % $ 139.8 45 %
Gaming Operations 71.0 69 % 67.1 72 % 282.8 70 % 257.7 72 %
Systems (1) 57.7 79 % 40.9 74 % 192.6 76 % 155.9 74 %
Total gross margin $ 172.7 65 % $ 152.8 62 % $ 646.0 65 % $ 553.4 63 %
Selling, general and administrative $ 72.1 27 % $ 62.7 26 % $ 276.7 28 % $ 245.0 28 %
Research and development costs 30.3 11 % 25.6 10 % 111.1 11 % 96.2 11 %
Loss contingency accrual — — 10.0 4 % — — 10.0 1 %
Depreciation and amortization 5.7 3 % 5.7 2 % 22.7 3 % 22.8 3 %
Operating income $ 64.6 24 % $ 48.8 20 % $ 235.5 24 % $ 179.4 20 %
Adjusted EBITDA $ 87.5 $ 81.8 $ 332.5 $ 282.5
Diluted EPS $ 0.95 $ 0.61 $ 3.45 $ 2.28
(1)
Gross Margin from Gaming Equipment and Systems excludes amortization related to certain intangibles, including core technology and license rights, which are included in depreciation and amortization.
Three Months Ended
June 30,
Year Ended
June 30,
2013 2012 2013 2012
Operating Statistics
New gaming devices 4,911 5,322 19,007 16,504
New unit Average Selling Price (“ASP”) $ 16,224 $ 17,182 $ 16,411 $ 17,044
As of June 30,
2013
2012
End-of-period installed base:
Linked progressive systems
2,463
1,792
Rental and daily-fee games
14,855
14,890
Lottery systems
11,846
11,718
Centrally determined systems
35,284
47,633
Highlights of Certain Results for the Three Months Ended June 30, 2013
Overall
• Total revenue increased 8 percent to a quarterly record $264 million as compared with $246 million last year.
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, including share-based compensation), a non-GAAP financial measure, increased 7 percent to a quarterly record $88 million as compared with $82 million last year.
• Selling, general and administrative expenses (“SG&A”) increased to 27 percent of total revenues as compared with 26 percent last year, driven by an increase in payroll to support key new markets.
• Research and development expenses (“R&D”) increased to 11 percent of total revenues as compared with 10 percent last year.
• Operating income increased 32 percent to a quarterly record $65 million compared with $49 million last year. Operating margin increased to 24 percent from 20 percent last year. The prior period included a loss contingency of $10 million related to certain legal matters.
• Diluted EPS increased 56 percent to a quarterly record $0.95 from $0.61 last year. Non-GAAP EPS increased 22 percent to $0.95 from $0.78 last year.
Gaming Equipment
• Revenues decreased 8 percent to $89 million as compared with $97 million last year, driven by fewer new casino openings. Current period sales included the shipment of 200 Canadian video lottery terminals (“VLT”), as well as the shipment of 713 units into the Illinois video gaming terminal (“VGT”) market.
• ASP of new gaming devices decreased 6 percent to $16,224 per unit from $17,182 last year, primarily as a result of a higher mix of lower-ASP VLT and VGT units sold in the quarter.
• New-unit sales to international customers were 24 percent of total new-unit shipments.
• Gross margin increased to 50 percent from 46 percent last year, due to continued cost reductions on the Pro Series™ line of cabinets and sales mix.
Gaming Operations
• Revenues increased 10 percent to a quarterly record $103 million as compared with $94 million last year, driven primarily by a 38 percent growth in the installed base of WAP games, as well as record quarterly lottery systems revenue.
• Gross margin decreased to 69 percent from 72 percent last year, primarily due to higher jackpot expense and higher depreciation expense.
Systems
• Revenues increased 32 percent to a quarterly record $73 million as compared with $55 million last year.
• Maintenance revenues increased 25 percent to a quarterly record $25 million as compared with $20 million last year.
• Gross margin increased to 79 percent from 74 percent last year, primarily as a result of the change in product mix. Specifically, hardware sales were 28 percent of systems revenues, and software and service sales were 38 percent, as compared to 29 percent for hardware and 35 percent for software and services in the same period last year.
Highlights of Certain Results for the Fiscal Year Ended June 30, 2013
Overall
• Total revenue increased 13 percent to a record $997 million as compared with $880 million last year.
• Adjusted EBITDA increased 18 percent to a record $332 million as compared with $282 million last year.
• SG&A remained constant at 28 percent of total revenues.
• R&D remained constant at 11 percent of total revenues.
• Operating income increased 31 percent to a record $236 million compared with $179 million last year. Operating margin increased to 24 percent from 20 percent last year. The prior period included a loss contingency of $10 million related to certain legal matters.
• Diluted EPS increased 51 percent to a record $3.45 from $2.28 last year. Non-GAAP EPS increased 41 percent to $3.45 from $2.45 last year.
Gaming Equipment
• Revenues increased 9 percent to $340 million as compared with $311 million last year, driven by higher domestic replacement sales, including 2,226 Canadian VLT shipments, as well as by 1,943 shipments into the Illinois VGT market.
• ASP of new gaming devices decreased 4 percent to $16,411 per unit from $17,044 last year, primarily as a result of a higher mix of lower-ASP VLT and VGT units sold.
• New-unit sales to international customers were 19 percent of total new-unit shipments.
• Gross margin increased to 50 percent from 45 percent last year, due to continued cost reductions on certain models of the Pro Series cabinets and sales mix.
Gaming Operations
• Revenues increased 13 percent to a record $405 million as compared with $357 million last year, driven by 38 percent growth in the installed base of WAP games, as well as record annual lottery systems revenue.
• Gross margin decreased to 70 percent from 72 percent last year, primarily due to higher jackpot expense.
Systems
• Revenues increased 19 percent to a record $252 million as compared with $212 million last year.
• Maintenance revenues increased 22 percent to a record $91 million as compared with $75 million last year.
• Gross margin increased to 76 percent from 74 percent last year, primarily as a result of the change in mix of products. Specifically, hardware sales were 30 percent of systems revenues, and software and service sales were 34 percent, as compared to 32 percent for hardware and 33 percent for software and services in the same period last year.
Fiscal 2014 Business Update
The Company reiterated fiscal 2014 guidance for Diluted EPS of $3.70 to $4.05 provided on July 16, 2013. As a result of normal seasonal trends, the timing of new openings and major systems installs, the Company expects that its Diluted EPS in the second half of fiscal 2014 will exceed the first half, with the second quarter being stronger than the first quarter. This guidance anticipates continued year-over-year growth in each of game sales, gaming operations, and systems revenues. This guidance does not reflect the impact of the planned acquisition of SHFL entertainment or any acquisition-related costs or savings.
The Company has provided this range of earnings guidance for fiscal 2014 to give investors general information on the overall direction of its business at this time. The guidance provided is subject to numerous uncertainties, including, among others, overall economic and capital-market conditions, the market for gaming devices and systems, changes in gaming legislation, the timing of new jurisdictions and casino openings, the timing and completion of new systems installations, competitive product introductions, complex revenue-recognition rules related to the Company’s business, and assumptions about the Company’s new product introductions and regulatory approvals. The Company does not intend and undertakes no obligation to update its forward-looking statements, including forecasts, potential opportunities for growth in new and existing markets, and future prospects for proposed new products. Accordingly, the Company does not intend to update guidance during the quarter. Additional information about the factors that could potentially affect the Company’s financial results included in today’s press release can be found in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
Non-GAAP Financial Measures
The following table reconciles the Company’s net income attributable to Bally Technologies, Inc., as determined in accordance with generally accepted accounting principles (“GAAP”), to Adjusted EBITDA:
Three Months Ended Year Ended
June 30, June 30,
2013 2012 2013 2012
(in 000s)
Net income attributable to Bally Technologies, Inc. $ 37,337 $ 26,521 $ 141,444 $ 101,148
Loss contingency accrual — 10,000 — 10,000
Interest expense, net 2,986 2,620 12,792 12,157
Income tax expense 21,229 19,295 76,574 63,549
Depreciation and amortization 22,266 20,128 88,272 81,453
Share-based compensation 3,704 3,186 13,380 14,172
Adjusted EBITDA $ 87,522 $ 81,750 $ 332,462 $ 282,479
Adjusted EBITDA is a supplemental non-GAAP financial measure used by the Company’s management and by some industry analysts to evaluate the Company’s ability to service debt, and is used by some investors and financial analysts in the gaming industry in measuring and comparing Bally’s leverage, liquidity, and operating performance to other gaming companies. Adjusted EBITDA should not be considered an alternative to operating income or net cash from operations as determined in accordance with GAAP. Not all companies calculate Adjusted EBITDA the same way, and the Company’s presentation may be different from those presented by other companies.
The following table reconciles the Company’s Diluted EPS, as determined in accordance with GAAP, to non-GAAP EPS:
Three Months Ended Year Ended
June 30, June 30,
2013 2012 2013 2012
Diluted EPS $ 0.95 $ 0.61 $ 3.45 $ 2.28
Loss contingency accrual, net of tax — 0.17 — 0.17
Non-GAAP EPS $ 0.95 $ 0.78 $ 3.45 $ 2.45
Non-GAAP EPS is a supplemental non-GAAP financial measure that the Company’s management believes more accurately reflects the Company’s operating results for the periods presented. Non-GAAP EPS should not be considered an alternative to Diluted EPS as determined in accordance with GAAP.
Earnings Conference Call and Webcast
As previously announced, the Company is hosting a conference call and webcast today at 4:30 p.m. EDT (1:30 p.m. PDT). The conference-call dial-in number is 866-524-3160 or 412-317-6760 (International). The webcast can be accessed by visiting BallyTech.com and selecting “Investor Relations.” Interested parties should initiate the call and webcast process at least five minutes prior to the beginning of the presentation. For those who miss this event, an archived version will be available at BallyTech.com until September 15, 2013.
About Bally Technologies, Inc.
With a history dating back to 1932, Las Vegas-based Bally Technologies designs, manufactures, operates, and distributes advanced technology-based gaming devices and systems worldwide, as well as interactive and mobile solutions. Bally’s product line includes reel-spinning slot machines, video slot machines, wide-area progressives, and Class II, lottery, and central determination games and platforms. Bally also offers an array of casino management, slot accounting, bonusing, cashless, and table-management solutions. Additional Company information, including the Company’s investor presentation, can be found at BallyTech.com. Connect with Bally on Facebook, Twitter, YouTube, LinkedIn, and Pinterest.
This news release may contain “forward-looking” statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and is subject to the safe harbors created thereby. Forward looking-statements are subject to change and involve risks and uncertainties that could significantly affect future results, including those risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission. Although the Company believes any expectations expressed in any forward-looking statements are reasonable, future results may differ materially from those expressed in any forward-looking statements. The Company undertakes no obligation to update the information in this press release except as required by law and represents that the information speaks only as of today’s date.
— BALLY TECHNOLOGIES, INC. —
BALLY TECHNOLOGIES, INC. AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS AND YEAR ENDED JUNE 30, 2013 AND JUNE 30, 2012
Three Months Ended Twelve Months Ended
June 30, June 30,
2013 2012 2013 2012
(in 000s, except per share amounts)
Revenues:
Gaming equipment and systems $ 161,625 $ 152,080 $ 592,061 $ 522,342
Gaming operations 102,777 93,715 404,978 357,417
264,402 245,795 997,039 879,759
Costs and expenses:
Cost of gaming equipment and systems (1) 59,827 66,416 228,805 226,636
Cost of gaming operations 31,868 26,573 122,188 99,680
Selling, general and administrative 72,099 62,753 276,685 245,043
Research and development costs 30,326 25,581 111,118 96,182
Loss contingency accrual — 10,000 — 10,000
Depreciation and amortization 5,687 5,686 22,733 22,775
199,807 197,009 761,529 700,316
Operating income 64,595 48,786 235,510 179,443
Other income (expense):
Interest income 1,590 1,526 5,328 5,221
Interest expense (4,576 ) (4,146 ) (18,120 ) (17,378 )
Other, net (3,107 ) (568 ) (6,443 ) (2,827 )
Income from operations before income taxes 58,502 45,598 216,275 164,459
Income tax expense (21,229 ) (19,295 ) (76,574 ) (63,549 )
Net income 37,273 26,303 139,701 100,910
Less net income (loss) attributable to noncontrolling interests
(64 ) (218 ) (1,743 ) (238 )
Net income attributable to Bally Technologies, Inc.
$ 37,337 $ 26,521 $ 141,444 $ 101,148
Basic and Diluted earnings per share attributable to Bally Technologies, Inc.:
Basic earnings per share $ 0.96 $ 0.63 $ 3.53 $ 2.35
Diluted earnings per share $ 0.95 $ 0.61 $ 3.45 $ 2.28
Weighted average shares outstanding:
Basic 38,696 42,238 40,120 42,985
Diluted 39,374 43,607 40,992 44,420
(1) Cost of gaming equipment and systems excludes amortization related to certain intangibles, including core technology and license rights, which are included in depreciation and amortization.
BALLY TECHNOLOGIES, INC. AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF JUNE 30, 2013 AND 2012
June 30,
2013
June 30,
2012
(in 000s, except share amounts)
ASSETS
Current assets:
Cash and cash equivalents $ 63,220 $ 32,673
Restricted cash 12,939 13,645
Accounts and notes receivable, net of allowances for doubtful accounts of $14,813 and $14,073 248,497 264,842
Inventories 68,407 75,066
Prepaid and refundable income tax 21,845 13,755
Deferred income tax assets 38,305 42,822
Deferred cost of revenue 22,417 17,615
Prepaid assets 14,527 13,061
Other current assets 2,920 6,980
Total current assets 493,077 480,459
Restricted long-term investments 14,786 12,171
Long-term accounts and notes receivables, net of allowances for doubtful accounts of $1,764 and $3,029 65,456 55,786
Property, plant and equipment, net of accumulated depreciation of $60,556 and $58,823 35,097 30,667
Leased gaming equipment, net of accumulated depreciation of $209,680 and $185,846 113,751 121,151
Goodwill 172,162 171,971
Intangible assets, net 25,076 39,166
Deferred income tax assets 17,944 7,409
Income tax receivable 1,837 12,041
Deferred cost of revenue 12,105 16,542
Other assets, net 27,974 23,104
Total assets $ 979,265 $ 970,467
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 25,863 $ 41,414
Accrued and other liabilities 91,127 85,310
Jackpot liabilities 11,731 11,682
Deferred revenue 62,254 46,314
Income tax payable 11,345 12,226
Current maturities of long-term debt 24,615 17,091
Total current liabilities 226,935 214,037
Long-term debt, net of current maturities 580,000 494,375
Deferred revenue 23,696 26,715
Other income tax liability 12,658 13,922
Other liabilities 16,804 23,943
Total liabilities 860,093 772,992
Commitments and contingencies
Stockholders’ equity:
Special stock, 10,000,000 shares authorized: Series E, $100 liquidation value; 0 and 115 shares issued and outstanding — 12
Common stock, $.10 par value; 100,000,000 shares authorized; 65,318,000 and 63,150,000 shares issued and 38,855,000 and 42,102,000 outstanding 6,523 6,309
Treasury stock at cost, 26,463,000 and 21,048,000 shares (1,058,381 ) (790,633 )
Additional paid-in capital 535,759 489,002
Accumulated other comprehensive loss (10,692 ) (13,477 )
Retained earnings 646,339 504,895
Total Bally Technologies, Inc. stockholders’ equity 119,548 196,108
Noncontrolling interests (376 ) 1,367
Total stockholders’ equity 119,172 197,475
Total liabilities and stockholders’ equity $ 979,265 $ 970,467
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130815006183/en/
MULTIMEDIA AVAILABLE:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50692120&lang=en
.
.
Contact:.
.
Bally Technologies, Inc.
Laura Olson-Reyes, 702-584-7742
Senior Director, Marketing & Corporate Communications
Lolson-reyes@ballytech.com
Michael Carlotti, 702-584-7995
Vice President of Treasury and Investor Relations
mcarlotti@ballytech.com
Mike Trask, 702-584-7451
Mobile: 702-330-6679
Corporate Communications Manager
MTrask@ballytech.com
BYI - Bally Technologies Implements Innovative Systems Solutions at The Downs at Albuquerque in New Mexico
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Acquisition Conference Call Updates
Bally Technologies Inc. To Acquire SHFL Entertainment Inc Conference Call transcript
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BYI - Bally Technologies, Inc. to Acquire SHFL Entertainment, Inc.
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BYI - Bally Technologies Installs Award-Winning Elite Bonusing Suite™ Applications at Isleta Hotel & Casino in New Mexico
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BYI - Bally Technologies’ Online Games Now Available on Paddy Power
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BYI - Bally Technologies Brings Content Online Through Agreement with iSoftbet
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BYI - Bally Technologies and Interblock Sign Online Content Agreement
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BYI - Bally Technologies, Inc. Announces New $300 Million Share Repurchase Authorization & $150 Million Accelerated Share Buyback
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BYI - Bally Technologies’ Systems Solutions to Power ‘World’s Largest Slot Tournament’ Record Attempt at Mohegan Sun April 27
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BYI - Bally Technologies to Report Its Third Quarter Fiscal 2013 Results on Wednesday, April 24 and Host Conference Call and Webcast
http://ih.advfn.com/p.php?pid=nmona&article=57110306&symbol=BYI
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BYI - Colville Tribal Federal Corporation Selects Bally Technologies as iGaming and Mobile Provider
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BYI - Bally Technologies Recruiting World-Class Talent During Game Developers Conference March 27-29 in San Francisco
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BYI - NASCAR® Video Slots Take Center Stage at NIGA’s Indian Gaming 2013 as America’s Most Popular Spectator Sport Gets Ready
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BYI - Bally Technologies’ Products Win Two of the Four Highest Honors in ‘Top 20 Most Innovative Products Awards’
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BYI - Bally Technologies’ President & Chief Executive Officer Ramesh Srinivasan to Speak at J.P. Morgan Gaming,
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BYI - Bally Technologies Wins “Best Technology Provider/Supplier” at the International Gaming Awards in London
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BYI - Bally Technologies Brings Content Online Through Agreement with OpenBet
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BYI - Bally Technologies to welcome lead celebrity of HISTORY’s “Pawn Stars” at ICE Totally Gaming February 6 in London
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BYI - Bally Technologies Implements Award-Winning iVIEW Display Manager (DM)™ & Other Trailblazing Systems Solutions at Double Ea...
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BYI - Bally Technologies is Driving Innovation to ICE 2013 with Pawn Stars™, NASCAR®, and Industry-Proven iGaming Content
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BYI - Bally Technologies to Report its Second Quarter Fiscal 2013 Results on Thursday, January 31
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BYI - Bally Technologies Announces Agreement to Provide 650 Video Lottery Terminals to Saskatchewan
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BYI - Ron Jeffrey Named Managing Director of Bally Australia
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BYI - Bally Technologies, Inc. Announces Leadership Transition
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BYI - Bally Technologies Signs Agreement to Offer Online Casino Table-Game Content from SHFL entertainment
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BYI - Bally Technologies Installs Industry-Leading Systems Solutions at Three Peermont Casinos in Republic of Botswana
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BYI - Bally Mobile Platform Wins Prestigious Gaming & Hospitality Partner Award
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BYI - Bally Technologies Is Driving Innovation to SAGSE Buenos Aires November 13-15 with Prominent Brands Pawn Stars™ and NASCAR®
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Bally Technologies, Inc. Reports Record First Quarter Fiscal 2013 Diluted EPS of $0.77, up 71 Percent from Prior Year
Thursday , October 25, 2012 16:01ET
LAS VEGAS--(BUSINESS WIRE)-- Bally Technologies, Inc. (NYSE: BYI)
At the Global Gaming Expo in Las Vegas, Bally Technologies introduced its NASCAR-themed video slots. (Photo: Business Wire)
-- WIDE-AREA PROGRESSIVE INSTALLED BASE GROWS 94 PERCENT AND SETS RECORD
QUARTERLY REVENUE; CASH CONNECTION(TM) INSTALLED BASE INCREASES TO 1,216
UNITS
-- GAMING EQUIPMENT REVENUES INCREASE 28 PERCENT
-- BOARD OF DIRECTORS APPROVES NEW $150 MILLION SHARE REPURCHASE PROGRAM;
COMPANY REPURCHASED $67 MILLION WORTH OF STOCK SINCE JUNE 30, 2012
-- INCREASES FISCAL 2013 DILUTED EPS GUIDANCE TO $3.05 TO $3.35
Bally Technologies, Inc. (NYSE: BYI), a leader in slots, video machines, casino management, interactive applications, and networked and server-based systems for the global gaming industry, today announced record first quarter diluted earnings per share ("Diluted EPS") of $0.77 and revenue of $235 million for the three months ended September 30, 2012.
"Our first quarter fiscal 2013 results continue to reflect the success of our expanded game studios, our new technology platform, and our successful execution on a number of other initiatives, including the entrance into new markets," said Richard M. Haddrill, the Company's Chief Executive Officer. "We expect continued growth from each of our businesses as both our visibility and our customer partnerships are at remarkable levels, and we continue to identify new growth opportunities. Further, the Bally showing earlier this month at the Global Gaming Expo ('G2E') was the best in our company's history."
"This week, the Company's Board of Directors authorized a new $150 million share repurchase program, replacing our existing program under which we had repurchased approximately $127 million of common stock, including $67 million of stock repurchased at an average price of $44.22 per share during the first quarter," said Neil Davidson, the Company's Chief Financial Officer. "The new repurchase program allows us to continue to support our capital-deployment strategy and reflects our continued confidence in Bally's long-term growth plan and ability to consistently generate free cash flow."
Additionally, the Company's leverage ratio remains comfortably below 2.0 times, which leaves the Company's share repurchases unrestricted under the terms of its credit agreement. This quarter represented the 20th consecutive quarter the Company has repurchased its common stock.
"The first quarter was momentous as we shipped our first Video Lottery Terminal ('VLT') units to the Atlantic Lottery Corporation, as well as initial Video Gaming Terminal ('VGT') units in Illinois," said Ramesh Srinivasan, the Company's President and Chief Operating Officer. "We are pleased with the feedback we received from customers earlier this month at G2E, where we showcased a significantly expanded game library and premium titles, such as NASCAR(R) and Pawn Stars(TM), and additional content for the Elite Bonusing Suite(TM). We remain confident in our growing for-sale content and in the performance of our wide-area progressive ('WAP') products including GREASE(TM) and Michael Jackson King of Pop(TM), and now our newest title, Betty Boop's(TM) Fortune Teller, which yet again drove record quarterly gaming operations revenues and gross margin."
Continued at:
http://www.knobias.com/story.htm?eid=3.1.d009e2a8ae4518a4b98b76cd2086301caea58b4f8f04d41ec1a52509f1893ae6
BYI: Q1 EPS 77c vs 45c Beats 70c Est
Friday , October 26, 2012 06:30ET
QUARTER RESULTS
Bally Technologies Inc (BYI) reported Q1 results ended September 2012. Q1 Revenues were $235.20M; +20.63% vs yr-ago; BEATING revenue consensus by +1.45%. Q1 EPS was 77c; +71.11% vs yr-ago; BEATING earnings consensus by +10.00%.
Q1 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
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Revenues: $235.20M $194.97M +20.63% $231.84M +1.45%
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EPS: 77c 45c +71.11% 70c +10.00%
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