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PokerTek CEO Discusses Q4 2010 Results - Earnings Call Transcript

Stocks in this article: PTEK

With that introduction, I'd like to turn the call over to Mark Roberson. Go ahead please, Mark.

Mark Roberson

Thank you, Harriet. Good morning, everyone. Our full year operating results continued to improve with revenue growth and margin expansion. We had another quarter of positive EBITDAS and a 50% improvement in our core share results.

Our business fundamentals have responded favorably to the focussed marketing strategies and cost reductions efforts and we grew our installed base to a record level. Our bottom line per share results were by far the strongest in the company’s five-year history.

We are pleased with the recent trends and plan to build on these operating improvements as we move into 2011. Our strategic plan for the upcoming year is centered on accelerating our revenue and profit growth and encompasses the following key elements.

First, we’ll expand PokerPro’s market penetration. PokerPro is well established and it’s the dominant electronic poker table in the gaming industry. Through our sales efforts, PokerPro has evolved into a sustainable recurring revenue business, producing greater than 70% margins and driving our current bottom line results. Looking ahead, we have substantial opportunities to build on that success and grow recurring revenue and profitability in our target markets.

Second, we’re diversifying our product line to provide our customers with a more complete electronic table game offer. We chose Blackjack as our first new game, because many of our customers specifically requested a product built with a same liability intuitive game play and efficient line attributes that have made PokerPro successful. The addition of Blackjack Pro and other house-banned games to follow, will significantly enhance our revenue opportunities.

Third, as we grow our PokerPro footprint and rollout Blackjack, we will continue to control spending and stay lean. Our current performance is a direct result of operational discipline combined with a targeted sales and marketing strategy. With our focus moving from turnaround and restructuring to driving revenue growth and product diversification, we will continue to adhere to those disciplines.

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