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Multimedia Games’ First Quarter Revenue Increases 27% To $44.3 Million; EBITDA Rises 31% To $21.4 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 of the expected increase in revenues for the year, the expansion of operating margins and the change in the depreciable lives of certain gaming operations assets described above, Multimedia Games now expects to report fiscal 2013 diluted earnings per share (“EPS”) of $0.79-$0.84, representing a year-over-year increase of approximately 16%-24% over fiscal 2012 diluted EPS as adjusted for the new depreciation schedule and when applying a 38% tax rate (the mid-point of the Company’s expected tax rate for fiscal 2013) for fiscal 2012.

   

Fiscal 2012

Revised Fiscal 2013 Guidance

EPS Reconciliation:

Low

 

High

As reported $ 0.96
Pro-forma at 38% tax rate (0.42 )
Impact of depreciation, net of tax   0.14      
Adjusted, Pro-forma EPS $ 0.68   $ 0.79 $ 0.84
 

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 subsequent filings and other items as more fully described in the section below titled “Cautionary Language.”

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