Pursuant to the authorization, Multimedia Games may purchase shares from time to time in the open market, through block purchases or in privately negotiated transactions in accordance with Company policies and applicable securities laws. The actual number of shares to be purchased, if any, will depend upon market conditions. Any shares purchased will be held in the Company’s treasury for possible future use. As of September 30, 2012, Multimedia Games had approximately 28.2 million shares issued and outstanding. During the quarter ended September 30, 2012, the Company did not repurchase any of its shares.Adam Chibib, Chief Financial Officer, commented, “We exited fiscal 2012 with growing business momentum and a healthy balance sheet, including $40.5 million in net cash, which represents an impressive $30.7 million improvement over the past year and a $63.3 million improvement from the end of fiscal 2010. Going forward, we plan on leveraging our strong product portfolio, expanding addressable market position and fiscal discipline to generate strong profitability and free cash flow. Further, with expectations for continued free cash flow generation, the Board believes returning value to stockholders through share repurchases is an excellent complement to our ongoing growth momentum.”
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
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