Bally Technologies 1Q Profit Up Slightly

LAS VEGAS (AP) — Slot-machine maker Bally Technologies Inc. said Thursday its fiscal first-quarter earnings inched higher despite declining sales, mostly due to a 34 percent drop in costs during the period.

The company earned $30.6 million, or 53 cents per share, compared with $30.3 million, or 52 cents per share, a year earlier. Revenue fell 17 percent to $196.5 million.

The profit result matched Wall Street's expectations, but sales fell short. Analysts polled by Thomson Reuters expected a profit of 53 cents per share on sales of $205.4 million.

For fiscal 2010, the company raised its earnings outlook to between $2.30 and $2.55 per share, from an earlier range of $2.25 to $2.50. Bally said that the weak economy and sluggish gaming machine market will be offset by new product introductions and improved customer spending.

The stock closed up 71 cents at $38.76, and climbed 3.2 percent to $40 in aftermarket trading.