Other revenue, primarily comprised of service revenue, was approximately $0.3 million in both the fiscal 2013 and 2012 first quarters.Total operating expenses for the fiscal 2013 first quarter rose $1.9 million, or 6.0%, year over year to $32.9 million. Total cost of goods sold increased by $2.3 million, driven primarily by an increase in the number of units sold and an increase in the Company’s installed base of participation units reflecting the Company’s expansion into more states. Selling, general and administrative (“SG&A”) expenses rose 5.5%, or $0.6 million, to $11.3 million, primarily reflecting higher benefit costs and non-cash stock compensation costs associated with higher headcount totals versus the prior year. SG&A expenses for the fiscal 2013 and fiscal 2012 first quarter periods include non-cash stock compensation costs of approximately $0.9 million and $0.6 million, respectively. Depreciation and amortization declined to $8.0 million from $9.7 million in the prior-year period primarily reflecting a change in the depreciable lives for gaming operations equipment from 36 months to 48 months as described below. Research and development expense of $4.2 million compares to $3.5 million in the prior-year period and reflects Multimedia Games’ ongoing initiative to develop innovative and differentiated gaming content that delivers a high-value player entertainment experience.
Multimedia Games’ First Quarter Revenue Increases 27% To $44.3 Million; EBITDA Rises 31% To $21.4 Million
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts