Effective October 1, 2012, Multimedia Games has moved from a 36-month depreciable life for its installed base of gaming operations equipment to a 48-month depreciable life. The end of Fiscal 2012 marked the third-year anniversary of the introduction of the Company’s award-winning wide body dual video cabinet, and management is now confident that its products have a useful life in excess of three years. Additionally, the change to the depreciable lives is now consistent with the standard used by the majority of the gaming equipment suppliers in the industry and is consistent with the current age of the Company’s equipment in the field. The change lowers total depreciation expense, therefore increasing operating income, net income and diluted earnings per share, but does not impact EBITDA, a non-GAAP financial metric commonly used in the gaming industry.Balance Sheet
Multimedia Games’ First Quarter Revenue Increases 27% To $44.3 Million; EBITDA Rises 31% To $21.4 Million
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