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June 4, 2012

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Casino supplier reports increase in profit

By (contact)

Wednesday, Aug. 12, 2009 | 2:56 p.m.

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Bally Technologies Inc. of Las Vegas, a big supplier of casino games and systems, today said its profit for the June quarter improved even as casinos purchased fewer slot machines because of the recession.

Bally said that for its fourth fiscal quarter ended June 30, it earned $33.19 million or 58 cents per share vs. a profit in 2008's fourth quarter of $31.26 million or 54 cents per share.

Quarterly revenue fell from $247.4 million to $205.1 million.

Gaming equipment sales of $78.2 million were down from $113.7 million as game machine shipments fell from 7,360 units to 5,043 units "due to a continued sluggish North America replacement market,'' Bally said.

But gaming operations revenue grew from $68.8 million to $70.8 million. Gaming operations includes rentals of gaming machines, linked progressive systems and video lottery systems.

"Despite the continued challenging economy, which has negatively impacted our customers’ capital spending, our diversified business model drove yet another very profitable quarter," Chief Executive Richard Haddrill said in a statement.

The company, which earned a record $2.22 per share for the fiscal year, said that for fiscal year 2010 it expects to earn $2.25 to $2.50 as it expects customers to start spending more beginning in calendar year 2010.

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