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WMS Reports Fiscal 2013 First Quarter Revenue Of $159 Million And EPS Of $0.17 Per Diluted Share

Stocks in this article: WMS

(2) Includes only participation game theme units. Does not include units with product sales game themes placed under fixed-term, daily fee operating leases.

Product Sales Revenues

Total product sales revenues for the September 2012 quarter rose 1% over the year-ago period to $88.0 million. WMS shipped 2,453 new gaming machines to customers in the U.S. and Canada, inclusive of 693 VLTs for Canada and the new Illinois VLT markets. Replacement units shipped to U.S. and Canadian customers increased 8% over the prior-year period to 1,726 gaming machines, while new gaming machine sales for new casino openings and expansions totaled 727 units compared with approximately 900 units in the September 2011 quarter. WMS shipped 1,338 new units, or 35% of total global new unit shipments, to international customers in the September 2012 quarter, compared to 1,388 new units, or 35% of global sales, in the year-ago period. The average sales price for new units of $16,033 rose modestly on a quarterly sequential basis but declined approximately 3% year over year, reflecting the mix of the lower-priced VLT units and a competitive marketplace.

Other product sales revenue increased 23% over the prior-year period to $27.2 million, reflecting higher revenue from a smaller number of used gaming machines at higher prices than the year-ago period, and other revenues, including one-time VLT software game set revenues, partially offset by lower conversion kit sales revenue compared to the record level of a year ago.

Gaming Operations Revenues

Gaming operations revenues increased to $71.1 million in the September 2012 quarter from $68.5 million in the year-ago period, marking the first year-over-year increase in gaming operations revenues in the last eight quarters. The quarter-end installed participation base increased by 71 units on a quarterly sequential basis to 9,632 gaming machines at September 30, 2012, and increased 40 units over the quarter end installed base a year-ago. The average installed participation base for the September 2012 quarter increased by 253 units on a quarterly sequential basis and was down 99 units compared to a year ago. Average revenue per day in the quarter of $65.23 per unit declined 2% on a quarterly sequential basis and was down from $71.70 in the September 2011 quarter.

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