Bally Technologies had a great quarter. They are a leading manufacturer of gaming systems and slot machines. They also operate of large progressive slot system. The company is known as BYI on the NYSE.
The company reported revenue of more than $264 million. This is an increase of 7.6 percent over the 2012 fourth quarter. They also reported earnings of more than $64 million and this is an increase of more than 32 percent over 2012 fourth quarter of 2012. This was all good news to both company officials and to company stockholders.
For the quarter, earnings per share came in at a record 95 cents which is an increase of 55.7 percent over 2012 fourth quarter results. The company has said that its revenue, earnings and earnings per share are all new records for the company. Also, this marks the eighth consecutive quarter for year-to-year earnings-per-share growth.
According to Bally President and CEO Ramesh Srinivasan: “Fiscal 2013 was a truly momentous year in Bally’s history. We made enormous progress in many different ways, including continued growth in wide-area progressive 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.”
As one can see, he is very optimistic about the company’s future and with earnings and revenues results such as being reported recently there is no reason for him to be anything else. All of this news is coming out ahead of the next big convention to be held in Las Vegas where Bally Technologies is expected to have some great showings on new products for the gaming markets.
Overall, this means that the company was able to finish the 2013 fiscal year and do so with a nice increase of 19 percent over the previous year. For the wide-area progressive base, it was reported to have grown by 38 percent and it, too, was a new record for revenue for the current year.
As if this were not enough good news, the company is also anticipating that the upcoming Global Gaming Expo that will take place in in September has the potential to be one of the best for the company. They are expected to show three new brands during the convention. While their Nascar slot did not make the grade as they had hoped it would, their Michael Jackson slot has proven to be a big winner in all venues where it is being played.
It was also reported that the company is still working to acquire Shfl Entertainment for a bit more than $1 billion. This deal was first announced back in July. No new information has been released yet on where the parties stand but there have been no negative stories either making one believe that the deal is progressing along.