This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Multimedia Games’ Third Quarter Revenue Rises 15% To $33.4 Million Driving Diluted EPS Of $0.10

Multimedia Games Holding Company, Inc. (Nasdaq: MGAM) (“Multimedia Games” or the “Company”) today reported operating results for its fiscal 2011 third quarter ended June 30, 2011, as summarized below:

Summary of 2011 Q3 Results

(In millions, except per share and unit data)

 
Three Months Ended
June 30,
2011   2010
Revenue $ 33.4   $ 29.1
EBITDA (1) $ 14.8 $ 12.3
Net income (2) $ 2.8 $ 0.4
Diluted earnings per share (2) $ 0.10 $ 0.01
 
New units sold (Multimedia Games’ proprietary units) 251 128
 
Average participation installed units((3)):
Domestic 8,912 8,284

International

4,452 5,036
Quarter-end participation installed units (3):
Domestic 8,933 8,689
International 4,338 5,093
(1)   EBITDA is defined as earnings before net interest expense, income taxes, depreciation, amortization, and accretion of contract rights. A reconciliation of EBITDA to net income, the most comparable Generally Accepted Accounting Principles (“GAAP”) financial measure, can be found attached to this release.
(2) Net income and Diluted earnings per share for the three months ended June 30, 2011 include a charge of $0.6 million, or $0.02 per diluted share, of which $0.5 million is for a one-time payment related to a central system service interruption and $0.1 million is related to a Mexican customs audit of prior year periods. Net income and Diluted earnings per share for the three months ended June 30, 2010 include a net benefit of $2.2 million, or $0.08 per diluted share, reflecting a benefit to income taxes of $2.6 million, or $0.09 per diluted share, offset in part by a one-time charge of approximately $0.4 million, or $0.01 per diluted share, related to the Company's April 2010 credit agreement amendment.
(3) As of June 30, 2011, the Company had no units in operation at charity bingo facilities in Alabama compared to the 475 units the Company had installed and in operation as of June 30, 2010.

Patrick Ramsey, President and Chief Executive Officer, commented, “Our fiscal 2011 third quarter results reflect continued momentum in new unit sales and growth in our domestic installed base, both of which are driven by the Company’s focus on creating new, entertaining products. Our expanding portfolio of exciting new products is being met with increased acceptance from current customers and new customers in a growing number of gaming markets.

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs