Bally Technologies Inc (BYI)

[MiamiGent]

BYI Bally Technologies, Inc. Reports Record Quarterly Diluted EPS on Record Third Quarter Revenue
PROVIDED BY Business Wire - 4:01 PM 04/26/2012

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LAS VEGAS--(BUSINESS WIRE)-- Bally Technologies, Inc. (BYI) :

THIRD QUARTER REVENUE UP 20 PERCENT TO $229 MILLION WITH DILUTED EPS OF $0.67
WIDE-AREA PROGRESSIVE INSTALLED BASE GROWS 54 PERCENT AND SETS RECORD QUARTERLY REVENUE, DRIVEN BY 127 INSTALLS OF GREASE™ IN MARCH
COMPANY REPURCHASES $54 MILLION WORTH OF STOCK SINCE DECEMBER 31, 2011
ANTICIPATES RECORD FOURTH QUARTER DILUTED EPS AND UPDATES FISCAL 2012 DILUTED EPS GUIDANCE TO $2.37 TO $2.45
Bally Technologies, Inc. , 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 from continuing operations (“Diluted EPS”) of $0.67 on third-quarter record revenue of $229 million for the three months ended March 31, 2012. Diluted EPS was $1.65 on revenue of $634 million for the nine months ended March 31, 2012.

“The past several months have been momentous, with DM Tournaments™ helping set two GUINNESS WORLD RECORDS®, numerous product awards received, and record attendance at our Systems Users Conference,” said Richard M. Haddrill, the Company’s Chief Executive Officer. “Most importantly, our third quarter financial and operating results are showing the payoffs from multiple investments as we execute on our growth initiatives. Bally continues to have a bright future as we partner with our customers to innovate the gaming experience.”

“We continue to thoughtfully allocate capital to invest in our growth, as well as to enhance shareholder value,” said Neil Davidson, the Company’s Chief Financial Officer. “This quarter represents the 18th quarter in a row that we have repurchased stock. Since December 31, 2011, we purchased approximately 1.2 million shares of common stock for $54 million at $45.69 per share, of which $41 million was in our third quarter, all while remaining under two turns of leverage.”

As of today, the Company has approximately $57 million available under its Board-authorized share repurchase plan. Additionally, the Company’s leverage ratio remains below 2.0 times, which leaves the Company’s share repurchases unrestricted under the terms of its credit agreement.