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 Fiscal 2012 Second Quarter Diluted EPS Rises To $0.24 On 31.2% Revenue Increase To $39.5 Million

Multimedia Games Holding Company, Inc. (Nasdaq: MGAM) (“Multimedia Games” or the “Company”) today reported operating results for its fiscal 2012 second quarter ended March 31, 2012, as summarized below:

Summary of 2012 Q2 Results

(In millions, except per share and unit data)

 

Three Months Ended March 31,

2012   2011
Revenue $ 39.5   $ 30.1
EBITDA (1) (2) $ 18.2 $ 14.1
Net income (2) $ 6.8 $ 1.2
Diluted earnings per share $ 0.24 $ 0.04
 
New units sold (Multimedia Games’ proprietary units) 472 240
 

Average participation installed units (3):

Domestic 9,721 8,690
International 1,816 4,499
Quarter-end participation installed units (3):
Domestic 9,891 8,853
International 1,281 4,551
 

(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)

EBITDA and net income for the three-month period ended March 31, 2011 includes a pre-tax charge of approximately $0.2 million primarily related to certain facilities in Alabama.

 

(3)

International participation installed units reflect placements in Mexico.

 

Patrick Ramsey, President and Chief Executive Officer of Multimedia Games, commented, “Our second quarter results reflect strong domestic unit sales and gaming operations revenue growth, as total revenues rose 31% year over year despite an aggregate $1.8 million decline in deferred revenues and revenues from operations in Mexico. The Company’s operating performance was driven by successful execution against key strategic initiatives such as refreshing our installed base with high-performing games, growing our installed base in existing and new markets, expanding the number of markets into which we can sell and/or place units and maintaining our focus on operating discipline. We are also beginning to benefit from operating leverage in our business as growth in operating income and net income significantly outpaced revenue growth. As a result, Multimedia Games recorded strong quarterly unit sales, its sixth consecutive quarter of domestic installed base growth, tenth consecutive quarter of operating income growth, and triple-digit net income and diluted EPS growth.”

1 of 9

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!
DOW 17,113.54 +61.81 0.36%
S&P 500 1,983.53 +9.90 0.50%
NASDAQ 4,456.0160 +31.3120 0.71%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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