Bally Technologies, Inc. (NYSE: BYI):
Bally Technologies' Chief Financial Officer Neil Davidson. (Photo: Business Wire)
- FOURTH QUARTER REVENUE INCREASES TO A RECORD $264 MILLION WITH RECORD DILUTED EPS OF $0.95
- SYSTEMS REVENUE SETS ANNUAL RECORD OF $252 MILLION, INCREASING 19 PERCENT FROM PRIOR YEAR
- WIDE-AREA PROGRESSIVE INSTALLED BASE GROWS 38 PERCENT AND SETS RECORD ANNUAL REVENUE
Bally Technologies, Inc. (NYSE: BYI), a leader in slots, video machines, casino management, interactive applications, and networked and server-based systems for the global gaming industry, today announced record quarterly diluted earnings per share (“Diluted EPS”) of $0.95 and record quarterly revenue of $264 million for the three months ended June 30, 2013. Diluted EPS was a record $3.45 on record annual revenues of $997 million for the year ended June 30, 2013.
“Fiscal 2013 was a truly momentous year in Bally’s history,” said Ramesh Srinivasan, the Company’s President and Chief Executive Officer. “We made enormous progress in many different ways, including continued growth in wide-area progressive (“WAP”) units, record Gaming Operations revenue, significant success in new markets like Canada, Illinois, and South Africa, establishing new revenue records in Systems while setting up Systems for further growth in the years ahead, and the launch of Bally content in regulated online jurisdictions. These achievements position us well for continued growth in fiscal 2014 and beyond.”
Srinivasan added, “The planned acquisition of SHFL entertainment will position us even better as an innovative end-to-end gaming solutions provider. We remain steadfastly focused on executing well in our core business and are looking forward to this September’s Global Gaming Expo, where we will demonstrate our industry-leading cross-platform solutions for games, systems, and interactive. We will also demonstrate how well positioned and ready we are to connect operators’ gaming worlds through a single view of the player.”“Bally remains unwavering in its commitment to shareholder value, as demonstrated by the 38 percent two-year Diluted EPS compound annual growth rate, among many other critical metrics,” said Neil Davidson, the Company’s Chief Financial Officer. “The growth and stability of our revenues that are recurring in nature continue to provide significant financial flexibility. With the planned acquisition of SHFL entertainment we now expect to utilize the majority of our excess free cash flow to repay debt. Since June 30, we have paid down an additional $45 million on our revolving credit facility placing our leverage at 1.7x.”