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TheStreet Open House

Multimedia Games’ First Quarter Revenue Increases 27% To $44.3 Million; EBITDA Rises 31% To $21.4 Million

Investors should not consider these measures in isolation or as a substitute for net income, operating income, or any other measure for determining the Company’s operating performance that is calculated in accordance with GAAP. In addition, because these measures are not calculated in accordance with GAAP, they may not necessarily be comparable to similarly titled measures employed by other companies.

 

For the Three Months Ended December 31,

2012   2011
(in thousands)
Net income $ 7,113 $ 5,782
Add back:
Amortization and depreciation 7,964 9,690
Accretion of contract rights (1) 1,953 1,896
Interest expense (income), net 126 (81 )
Income tax expense (benefit)   4,214   (987 )
EBITDA $ 21,370 $ 16,300  
 
1)   “Accretion of contract rights” relates to the amortization of intangible assets for development projects. These amounts are netted against revenues in the Consolidated Statements of Operations.
 

Net Cash Position

 
 

As of December 31, 2012

 

As of September 30, 2012

(in thousands)
Cash and cash equivalents $ 73,295 $ 73,755
Less:
Long-term debt   (32,375 )   (33,300 )
Net cash $ 40,920   $ 40,455  




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