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Multimedia Games CEO Discusses F3Q2011 Results - Earnings Call Transcript

Stocks in this article: MGAM

To summarize, our revenues through our first three quarters are up over 5%. Through the first three quarters last year, we had a net loss of $9.4 million, this loss has been reversed and our year-to-date net income for fiscal year 2011 is $2.6 million. Our year-to-date financial results reflect our simplified and focused strategy of selling or placing our own proprietary products in all gaming markets to which we have access. With continued positive feedback for our newest products, a healthy game development pipeline and access to more gaming markets we continue to be optimistic about our future.

Finally, before Adam walks you through our more detailed financial results I want to briefly summarize our recent extension of games that we highlighted in our press release this morning. Overall, we have approximately 5200 games on the floors of the Chickasaw Nation properties, which represent approximately 35% of their current floor share. At three other smaller properties where we have had approximately 600 games representing 50% of each floor the agreements were set to expire next month. We work with our customer to develop a unit placement plan for these facilities that allows us to focus on providing our best proprietary content going forward on a smaller percentage of the floor.

This plan includes establishing a timeline that provides minimal disruption to our business and to the operating properties as well. We look forward to enhancing this very important long-term relationship with our largest customer over the coming years while continuing to expand the markets and customers that we serve.

Read the rest of this transcript for free on seekingalpha.com

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