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TheStreet Open House

Bally Technologies' CEO Discusses Q3 2012 Results - Earnings Call Transcript

Stocks in this article: BYI

Bally Technologies (BYI)

Q3 2012 Earnings Call

April 26, 2012 4:30 pm ET

Executives

Richard M. Haddrill - Chief Executive Officer and Executive Director

Neil P. Davidson - Chief Financial Officer, Senior Vice President, Principal Accounting Officer and Corporate Treasurer

Ramesh Srinivasan - President and Chief Operating Officer

Analysts

Steven E. Kent - Goldman Sachs Group Inc., Research Division

Steven M. Wieczynski - Stifel, Nicolaus & Co., Inc., Research Division

Joseph Greff - JP Morgan Chase & Co, Research Division

Carlo Santarelli - Deutsche Bank AG, Research Division

Mark Strawn - Morgan Stanley, Research Division

Todd Eilers - Roth Capital Partners, LLC, Research Division

William J. Lerner - Union Gaming Group, LLC

Darnel J. Bentz - KeyBanc Capital Markets Inc., Research Division

Ryan L. Worst - Brean Murray, Carret & Co., LLC, Research Division

Joel H. Simkins - Crédit Suisse AG, Research Division

Presentation

Operator

Good day, ladies and gentlemen, and welcome to the Third Quarter 2012 Bally Technologies, Inc. Earnings Conference Call. As a reminder, this conference is being recorded for replay purposes. [Operator Instructions] I would now like to turn the presentation over to Mr. Richard Haddrill, Chief Executive Officer. Please proceed, sir.

Richard M. Haddrill

Welcome, everyone, to Bally Technologies' Third Quarter Fiscal 2012 Earnings Call. Today's results mark an all-time quarterly record for diluted earnings per share from continuing operations, record third quarter revenues and our fifth consecutive quarter of year-over-year revenue and earnings per share growth. Revenues from all 3 of our sources again increased with approximately 53% percent of third quarter revenue being recurring in nature, which continues to support earnings visibility. We set revenue records in each of the last 5 quarters for gaming operations, driven by the significant investments we have made in our game development studios over the past few years.

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