VEGAS INC coverage
Las Vegas-based slot machine maker and casino systems supplier Bally Technologies Inc. said today its fiscal 2012 first-quarter profit fell slightly, even as revenue increased.
The company earned $20.4 million, or 45 cents per share, in the quarter ended Sept. 30 vs. a profit of $21.8 million, or 39 cents, in the year-ago quarter.
The per-share profit increased because there were fewer shares outstanding in the 2012 quarter because of a stock buyback program.
Revenue in the 2012 fiscal first quarter of $195 million was up from $171 million in 2011’s fiscal first quarter ended Sept. 30, 2010.
Costs were kept in check as operating income — revenue less costs and expenses — came in at $37.4 million, up from $34 million.
But net income fell slightly, in part because interest expenses increased by about $1.5 million.
Bally said in a statement that gaming equipment revenue increased 26 percent in the quarter to $64 million. The company sold 3,399 slot machines and other devices for an average $16,624, up from 2,823 units at $15,685 in the year-ago quarter.
Gaming operations revenue increased 7.5 percent to a record $85 million, thanks to placement of new premium games and strong performances by its linked progressive and lottery systems, the company said.
Gaming systems revenue increased by 12 percent to $46 million, the company said.