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WMS Industries' CEO Discusses F4Q12 Results - Earnings Call Transcript

Stocks in this article: WMS

Next to participation, our excellence in innovation and product advancement is clearly evident. Our newest games are driving unit growth in our install base and we have a healthy backlog which bodes well for all the games in our installed footprints in the current quarter. The first two games powered by our CPU-NXT 3 operating system, the Aladdin & the Magic Quest and Super Team themes were launched on schedule late in the June quarter along with three other new participation games.

These new participation games couple with the ongoing rollout of CLUE, Epic MONOPOLY and the Lord of the Rings 3 reel-mechanical [ph] games, drove a 172 unit quarterly sequentially increase in installed participation base at June 30. Our open sales orders remained strong a 1,879 units and we’re looking forward to introducing some really exciting new participation games and cabinets at the G2E Trade Show in October. These coming products combined with the continued rollout of our latest approved games into additional markets are expected to keep demand for new WMS participation games at very healthy levels.

The progress in the June quarter and throughout the full-year reflects our commitment to and focus on restoring our growth. During fiscal ‘12, we achieved a number of accomplishments that solidified the foundation of what we believe will be a new chapter of long-term growth to WMS. I’ll briefly comment on a few. We restored the normal flow of new product development in jurisdictional approvals which has allowed us over the last two quarters to reestablish customer demand and rebuild momentum in our product sales and participation businesses.

Successfully launched our new Bluebird2e cabinet with emotive lighting, adapted our proven Bluebird2 cabinet with the CPU-NXT2 operating platform for class two markets and launched the first participation games running on our next generation CPU-NXT3 platform. We secured a key partnership with Station Casinos’ to launch our new My Poker video poker machines in the Las Vegas locals market in the December ‘12 quarter. We’re selected to participate in VLT Replacement program in Alberta, Canada with first shipments beginning in the current year.

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