Bally Technologies reports fall in earnings

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Wednesday, Oct. 27, 2010 | 5:16 p.m.

Bally Technologies Inc. of Las Vegas, a maker of slot machines and casino systems, today said its 2011 fiscal year first quarter earnings fell on lower revenue.

The company earned $21.8 million, or 39 cents per share in the most recent quarter, down from $30.6 million or 53 cents for the 2009 quarter ended Sept. 30. Revenue of $170.8 million was down from $187.3 million.

"Delays in certain decisions and the unfavorable timing of some go-lives related to our systems resulted in lower than normal quarterly systems revenue; however, we continue to see strong growth opportunities in systems," CEO Richard Haddrill said in a statement. "We are well positioned to capitalize on our innovation in new products and our investments in new jurisdictions in 2011."

Gaming equipment sales revenue fell to $51 million from $62 million in last year's first quarter.

New gaming device sales decreased to 2,823 units vs. 3,936 units last year, "driven by fewer new openings and expansions during the period and a continued sluggish North America replacement cycle'' by casinos, Bally said.

System revenue decreased to $41 million vs. $54 million last year, but gaming operations revenue increased to a quarterly record of $79 million vs. $71 million.