This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Multimedia Games’ First Quarter Revenue Rises 21.6% To $34.8 Million; Reports Diluted EPS Of $0.21 Inclusive Of $0.07 Per Diluted Share Benefit From Non-Recurring Items

Stocks in this article: MGAM

Ramsey continued, “With growing acceptance of our products in a variety of domestic gaming jurisdictions, Multimedia Games’ total revenues for the fiscal 2012 first quarter increased 21.6%. We more than doubled the number of units sold compared with the first quarter last year and recorded double digit year-over-year revenue growth in our gaming operations segment, as our quarter-end domestic installed base increased by 961 units, or approximately 11%, from the prior-year period.

“Our new products continue to gain traction in a number of markets – including Oklahoma, California, Washington, Mississippi and Louisiana – as we deployed an aggregate 662 new revenue units in the quarter, including the sale of 408 new units in ten jurisdictions and the net addition of 254 units to our installed base. Our strengthened product portfolio was also a key factor in the Company’s ability to further solidify our long-term strategic alliance with the Chickasaw Nation, as we recently extended several long-term unit placement agreements which positions the Company to retain approximately 90% of our current footprint at their facilities through the end of our fiscal 2015. Revenues from our operation of the New York Lottery’s central determinant system also continue to rise reflecting the recent opening of Resorts World New York as well as solid year-over-year increases at existing facilities.

“The deployment of an increasing number of new revenue units, the renewal of several long-term agreements with the Chickasaw Nation, and our ongoing new market licensing efforts, coupled with consistent cash flow generation have established a strong platform for future growth. Reflecting the strong fiscal 2012 first quarter performance, we are raising our full year diluted EPS outlook to a range of $0.42-$0.45 from a range of $0.23-$0.26.”

Summary of Fiscal 2012 First Quarter Operating Results

Multimedia Games’ fiscal 2012 first quarter revenue rose 21.6%, or $6.2 million, to $34.8 million, compared to revenue of $28.6 million in the fiscal 2011 first quarter. Fiscal 2012 first quarter revenue included approximately $24.9 million from gaming operations and approximately $9.6 million from gaming equipment and system sales, compared with $22.0 million in revenue from gaming operations and $6.1 million from gaming equipment and system sales in the year-ago period.

2 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs