Multimedia Games Holding Company, Inc. (Nasdaq: MGAM) (“Multimedia Games” or the “Company”) today reported operating results for its fiscal 2012 first quarter ended December 31, 2011, as summarized in the table below:
Summary of 2012 Q1 Results
(In millions, except per-share and player terminal data)
Three Months Ended December 31,
|Net income (loss) (2)||$||5.8||$||(1.4||)|
|Diluted income (loss) per share (2)||$||0.21||$||(0.05||)|
New proprietary units sold
|Average participation installed units:|
|Quarter-end participation installed units:|
EBITDA is defined as earnings (loss) before net interest expense, income taxes, depreciation, amortization and accretion of contract rights. A reconciliation of EBITDA to net income (loss), the most comparable Generally Accepted Accounting Principles (“GAAP”) financial measure, can be found attached to this release.
Net income and diluted income per share for the three-month period ended December 31, 2011, includes a one-time tax benefit totaling $1.0 million, or $0.04 per fully diluted share, and a gain on the sale of used equipment back to the original manufacturer totaling $0.9 million, or $0.03 per diluted share.
International participation installed units reflect placements in Mexico.
Patrick Ramsey, President and Chief Executive Officer of Multimedia Games, commented, “Our first quarter results reflect a continuation of the momentum the Company built throughout fiscal 2011 and represent a very strong start to fiscal 2012. By successfully executing against key strategic initiatives including growing our unit sales and installed base, refreshing our installed base at our largest customer’s facilities with proprietary Class II games, expanding the number of markets we can serve, and maintaining a focus on operating discipline, Multimedia Games continues to strengthen our competitive position and prospects for long-term growth. Our progress with these initiatives is evidenced by the year-over-year increase in unit sales, the fifth consecutive quarter of growth in our domestic installed base and our ninth consecutive quarter of operating income improvement, all of which helped drive fiscal 2012 first quarter diluted earnings per share of $0.21, inclusive of a $0.07 benefit from non-recurring items.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV