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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

Stocks in this article: MGAM

The Company expects to generate EBITDA, a non-GAAP financial measure, of $76.6-$79.2 million in fiscal 2013, representing growth of 8%-11% over total fiscal 2012 EBITDA of $71.1 million.

Finally, the Company currently expects its fiscal 2013 tax rate will be in the range of 36%-40% compared to its fiscal 2012 full year effective tax rate benefit of 11.4%. As a result, Multimedia Games expects to report fiscal 2013 diluted EPS of $0.60-$0.65, representing a year-over-year increase of approximately 12%-21% over reported fiscal 2012 EPS when applying a 38% tax rate for fiscal 2012.

Comparison of Fiscal 2013 Guidance to Fiscal 2012 and Fiscal 2011 Results

(In millions, except per-share)

Twelve Months Ended September 30,

2013 Guidance (1 )

  2012   2011
Revenue $ 165.6- 170.2 $ 156.2 $ 127.9
EBITDA $ 76.6- 79.2 $ 71.1 $ 55.0
Operating Income $ 26.7- 29.2 $ 24.1 $ 6.2
Diluted earnings per share $ 0.60 - 0.65 $ 0.96 $ 0.20
Pro-forma diluted earnings per share (2) $ 0.60 - 0.65 $ 0.54 $ 0.14



Represents Company guidance for fiscal 2013 as provided today, November 15, 2012 with forecasted net income and diluted EPS ranges reflecting expected full year tax rate of 36%-40%.



“Pro-forma diluted earnings per share” for the fiscal 2012 and fiscal 2011 periods reflects a 38% tax rate applied to the reported “Income before income taxes” for both periods (see reconciliation table on page 11 of this press release).


Multimedia Games cautions that market dynamics are constantly changing and as such, actual results could vary materially from the expectations noted above based on various factors, such as changes in the Company’s markets, operations, regulatory requirements, and its estimates and assumptions. See the risk factors in our publicly-filed Form 10-K’s and Form 10-Q’s and other items as more fully described in the section below titled “Cautionary Language.”

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