This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Multimedia Games’ Fourth Quarter Revenue Rises 15.8% To $41.4 Million; Diluted EPS Of $0.28, Inclusive Of $0.04 Net Benefit From Taxes And Other Items

Reflecting the strong year-over-year revenue growth in the fiscal 2012 fourth quarter, operating income rose by $2.6 million to $5.9 million and operating margin improved to 14.2% in the quarter compared to 9.3% in the year-ago period. For the fiscal 2012 fourth quarter, Multimedia Games reported net income of $8.3 million, or $0.28 per diluted share, inclusive of a $2.5 million, or $0.08 per diluted share net tax benefit, which was partially offset by a one-time charge of $1.2 million, or $0.04 per diluted share, for ongoing tax litigation related to the Company’s operations in Mexico, compared to net income of $3.1 million, or $0.11 per diluted share, in the fiscal 2011 fourth quarter.

Net capital expenditures in the fiscal 2012 fourth quarter were $13.4 million compared to $11.6 million a year ago, primarily reflecting Multimedia Games’ ongoing investment in its installed base.

Total revenue in fiscal 2012 rose $28.3 million, or 22.2%, to $156.2 million and is comprised of $112.0 million in revenue from gaming operations, $42.8 million in revenue from gaming equipment and system sales and $1.4 million in other revenue. Gaming operations revenues increased by $16.5 million, or 17.3%, from the prior year driven by a 1,291 increase in the domestic installed base and an increase in daily win per unit. The Company generated $36.3 million in revenues related to the sale of 1,961 new units in fiscal 2012 compared to revenue of $20.4 million for the sale of 1,150 units in fiscal 2011. Deferred revenues recognized in fiscal 2012 and fiscal 2011 were $2.7 million and $7.4 million, respectively.

Total operating expenses in fiscal 2012 rose $10.4 million, or 8.5%, to $132.1 million. SG&A expenses grew $7.6 million to $49.6 million while total cost of goods sold increased by $3.8 million. Fiscal 2012 and 2011 SG&A expenses included non-cash stock compensation costs of $3.4 million and $1.5 million, respectively. Depreciation and amortization expense in fiscal 2012 declined by $2.7 million from the prior year while research and development expense rose by $2.5 million.

5 of 12

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

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