LAS VEGAS--()--Bally Technologies, Inc. (NYSE: BYI):
“During our fourth quarter we established a number of company records for revenues and profitability, prudently accrued $10 million for several legal matters, and purchased another $73 million of our common stock, bringing the total during fiscal 2012 to 3.9 million shares for $155 million at $40.06 per share”
- FOURTH QUARTER REVENUE UP 15 PERCENT TO A RECORD $246 MILLION WITH NON-GAAP EPS OF $0.78
- WIDE-AREA PROGRESSIVE INSTALLED BASE GROWS 72 PERCENT AND SETS RECORD QUARTERLY REVENUE; CASH CONNECTION™ INSTALLED BASE INCREASES TO 625 UNITS
- COMPANY REPURCHASES $106 MILLION WORTH OF STOCK SINCE MARCH 31, 2012
- INITIATES FISCAL 2013 DILUTED EPS GUIDANCE OF $2.95 TO $3.30
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, announced today quarterly non-GAAP EPS of $0.78 on record revenue of $246 million for the three months ended June 30, 2012. Non-GAAP EPS was $2.45 on record revenue of $880 million for the year ended June 30, 2012. Diluted earnings per share from continuing operations (“Diluted EPS”) was $0.61 and $2.28 for the three months and year ended June 30, 2012.
“Our fourth quarter and fiscal 2012 results validate our leadership position in gaming technology innovation,” said Richard M. Haddrill, the Company’s Chief Executive Officer. “This innovation leadership and visibility into further growth opportunities for all of our businesses for fiscal 2013 and beyond is tremendously encouraging.”
“During our fourth quarter we established a number of company records for revenues and profitability, prudently accrued $10 million for several legal matters, and purchased another $73 million of our common stock, bringing the total during fiscal 2012 to 3.9 million shares for $155 million at $40.06 per share,” said Neil Davidson, the Company’s Chief Financial Officer. “Since June 30, 2012, we purchased an additional $33 million worth of stock.”
As of today, the Company has approximately $58 million available under its Board-authorized share repurchase plan. 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 19th consecutive quarter the Company has repurchased shares.
“We increased the Cash Connection wide-area progressive (“WAP”) installed base by almost 500 units in the fourth quarter including additional installations of GREASE™ and the recently launched Michael Jackson King of Pop™ to much-deserved excitement from the marketplace,” said Ramesh Srinivasan, the Company’s President and Chief Operating Officer. “Total new gaming devices sold was the strongest it has been in 13 quarters, and in late July we went live with our first VLTs in Italy. We are particularly excited about this October’s Global Gaming Expo, where we will showcase new branded WAP titles, additional content for the Elite Bonusing Suite™, and several new titles for sale and rental on the ALPHA 2™ platform.”
