Bally Technologies Generates Record $264m Revenue In Q4

Nevada based slot machines and gaming technology manufacturer, Bally Technologies Inc, has released its financial results for the three months ended June 30th, 2013, revealing a record quarterly revenue of $264 million, up 7.6% compared to the same quarter last year.
In the final quarter of the fiscal year, Bally Technologies reported  record results from its progressive game operations, with revenues up by 9.7% to $102.8 million, and sale of gaming systems, up by 32% to $72.9 million. However, these figures were offset slightly by a decline in its game-equipment revenue, which fell by 8.4% to $88.7 million.
During Q4, Bally Technologies reported a total profit of $37.3 million, equal to 95 cents per share, an improvement on the $26.5 million, or 61 cents per share of a year earlier. After the latest quarterly results were released, shares in the company rose further and are currently priced at $71.74, giving Bally Technologies a market capitalization of $2.79 billion. Shares in the company are now up by 64% this year.
Furthermore, the company’s full-year revenue for fiscal year 2013 is now up by 13% at $997 million and summing up Bally Technologies’ overall impressive results, Company’s CEO Ramesh Srinivasan, commented: “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 (“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.”
Meanwhile, Bally Technologies is also expected to unveil three new slots at this year’s Global Gaming Expo convention in Las Vegas come September, including the much anticipated Michael Jackson-themed slot machine, “Wanna Be Startin’ Somethin’. The company is also on track to complete its planned $1.3 billion acquisition of Shfl Entertainment soon, a gaming manufacturing business which enjoys a “virtual monopoly” in the card shuffler business.