This Day On The Street
Continue to site
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

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

Net cash used in investing activities was $48.7 million in the September 2012 quarter compared to $42.7 million in the prior-year quarter, reflecting a $3.5 million increase in capital deployed for gaming operations equipment as we continued to upgrade our installed base with newer gaming cabinets and operating systems, and $4.4 million for higher property, plant and equipment expenditures, primarily related to costs to complete two significant projects during the quarter, all of which were partially offset by a $1.9 million decrease in capital deployed to acquire or license intangible and other non-current assets. With two major property, plant and equipment projects now largely complete and anticipated lower capital investment in gaming operations assets, the Company expects an aggregate 20% decline in annual capital spending on gaming operations equipment and property, plant and equipment in fiscal 2013.

Net cash provided by financing activities was $20.6 million compared to $8.2 million in the prior year primarily due to $22.5 million of lower stock repurchase activity compared with the prior-year period, partially offset by $10.0 million of lower net borrowings under the Company’s line of credit.

Adjusted EBITDA, a non-GAAP financial metric (see reconciliation to net income schedule near the end of this release), increased 24% to $52.9 million in the September 2012 quarter compared with $42.8 million in the prior-year period. The adjusted EBITDA margin for the September 2012 quarter improved to 33.2% from 27.5% in the year-ago period.

Total cash, cash equivalents and restricted cash was $69.1 million at September 30, 2012.

Share Repurchase Program Update

During the three months ended September 30, 2012, the Company purchased 317,347 shares of its common stock for total consideration of $5.0 million. Approximately $143 million remains available pursuant to WMS’ share repurchase authorization. At September 30, 2012, WMS had 54.6 million shares outstanding and 5.1 million shares in the Company’s treasury.

6 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,106.47 +94.53 0.52%
S&P 500 2,114.90 +5.30 0.25%
NASDAQ 5,099.7290 +23.2050 0.46%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs