Las Vegas-based Bally Technologies, which manufactures and distributes slot machines and casino systems, reported its second-quarter earnings Thursday.
Company: Bally Technologies Inc. (NYSE: BYI)
Revenue: $285.2 million (up 19.7 percent from second quarter 2013). Revenue was paced by record second-quarter results from the company’s systems division — $85 million, a 51 percent increase over the same quarter a year ago.
Earnings: $179.9 million (up 14.7 percent from second quarter 2013). In the first quarter, results were affected by one-time expenses related to the company’s acquisition of Shfl Entertainment. In the second quarter, the company had 37 days of operation as a merged company.
Earnings per share: $1.06 a share (up 32.5 percent from second quarter 2013)
What it means: The company recorded its 10th consecutive profitable quarter, and Bally executives believe the integrated operation with Shfl will produce synergies of $40 million instead of the $30 million previously projected.
Electronic gaming machine revenue increased by 7 percent to $88 million, but gaming operations revenue fell 2 percent to $97 million. With Shfl products now in the mix, table-product revenue debuted at $14.3 million for the quarter.
“Our second quarter fiscal 2014 was transformative in many respects,” said Ramesh Srinivasan, Bally’s president and CEO.
“We successfully closed the acquisition of Shfl ahead of schedule and the ongoing integration process is moving forward smoothly,” Srinivasan said. “We have integrated our sales, services and product development teams while simultaneously continuing to execute well on our core businesses as evidenced in our second quarter results.”