Bally Reports Record 1st Quarter Profits
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 $0.93 and record quarterly revenue of $259 million for the three months ended March 31, 2013.
“This record quarter continues to mark a historic period of sustained operating improvement and success which is shaping up to meaningfully continue for the foreseeable future,” said Ramesh Srinivasan, the Company’s President and Chief Executive Officer. “Our recent premium and wide-area progressive (‘WAP’) product launches, including Hot Shot Progressive®, Cash Wizard Tiki Magic™, and Pawn Stars™, have returned strong initial performances in many different locations, and the much-anticipated NASCAR® WAP debuted last week.
"We are also preparing to release an impressive array of new for-sale game titles developed by our game studios and third-party development partners. The spate of major global systems installations and significant upgrades, the latter at the rate of more than one per week, continue to bring a new operational and marketing dimension to many casino floors, while providing a solid strategic base for crucial future integration with our mobile and iGaming platform initiatives.”
“Bally set a number of financial and operational records in the third quarter, including yet another quarterly record for revenues that are recurring in nature,” said Neil Davidson, the Company’s Chief Financial Officer. “Additionally, this quarter represents the 22nd quarter in a row that we have repurchased stock. During the third quarter, we purchased 641,000 shares of common stock for $31 million at $48.79 per share. The new $300 million share repurchase program and accelerated share buyback announced today continue to demonstrate the confidence and visibility we have into our long-term growth trajectory. Including the announced $150 million accelerated share buyback, Bally will have purchased more than $1 billion of its common stock since November 2007.”
