BALLY TECHNOLOGIES, INC. REPORTS RECORD ADJUSTED EPS OF $1.10 AND GAAP DILUTED EPS OF $0.70 FOR THE THIRD QUARTER OF FISCAL 2014

  • ADJUSTED EPS, WHICH INCLUDES $0.05 OF FOREIGN CURRENCY LOSSES, INCREASES TO A RECORD $1.10, UP 18 PERCENT FROM PRIOR YEAR​ ​
  • WIDE-AREA PROGRESSIVE REVENUE SETS A QUARTERLY RECORD
  • ACHIEVES NORTH AMERICA REPLACEMENT-UNIT SALES OF 2,496, UP 22 PERCENT FROM PRIOR YEAR
  • SYSTEMS REVENUE SETS A QUARTERLY RECORD FOR THE SIXTH CONSECUTIVE QUARTER OF $91 MILLION, UP 27 PERCENT FROM PRIOR YEAR
  • UPDATES FISCAL 2014 ADJUSTED EPS GUIDANCE TO $4.35 TO $4.50

 

 

 

LAS VEGAS, May 1, 2014 — Bally Technologies, Inc. (NYSE: BYI) (“Bally” or the “Company”), a leader in gaming machines, table game products, casino-management systems, interactive applications, and networked and server-based systems for the global gaming industry, today announced record quarterly revenue of $338 million and Adjusted EPS of $1.10 for the three months ended March 31, 2014, which includes a $0.05 per share loss from unfavorable foreign currency movements.  Diluted earnings per share (“GAAP Diluted EPS”) were $0.70 for the three months ended March 31, 2014.

“We achieved outstanding financial and operational results in the quarter which helped drive a record 26 percent adjusted operating margin for the first nine months of fiscal 2014 versus 23 percent in the prior year,” said Ramesh Srinivasan, the Company’s President and Chief Executive Officer.  “The ongoing SHFL integration has been pivotal in many respects to our results.  Our Systems business continues to be a major factor as we gain a greater share of the industry’s increasing technology-related spend.  On the EGM front, initial demand for our Pro Wave™ cabinet has been very robust, helping us to grow domestic replacement unit sales by 25 percent over last quarter.  Combined with SHFL’s international strength, this was our highest quarterly EGM unit sale level in six years, despite the absence of Canada VLT units.  We remain confident that our industry-leading innovation as evidenced by the Pro Wave platform and strength across a broad portfolio of products will help us grow our business into fiscal 2015 and beyond.”

“We continued to set a number of financial records this quarter while generating significant free cash flow,” said Neil Davidson, the Company’s Chief Financial Officer.  “We remain committed to deleveraging our balance sheet, as evidenced by the $68 million of debt we repaid during the quarter, for a total of $101 million since the acquisition of SHFL, which lowered our leverage ratio to 3.9 times.  In addition, we repurchased approximately 150,000 shares of our common stock for $10 million during the quarter.  We will continue to prudently utilize excess free cash flow to pay down debt with the goal of achieving a leverage ratio of 3.0 times by the end of calendar 2015.”

As previously announced, the Company is hosting a conference call and webcast today at 4:30 p.m. EDT (1:30 p.m. PDT). The conference-call dial-in number is 866-524-3160 or 412-317-6760 (International); passcode “Bally”.  The webcast can be accessed by visiting BallyTech.com and selecting “Investor Relations.” Interested parties should initiate the call and webcast process at least five minutes prior to the beginning of the presentation. For those who miss this event, an archived version will be available at BallyTech.com until June 2, 2014.

 Earnings Conference Call and Webcast

As previously announced, the Company is hosting a conference call and webcast today at 4:30 p.m. EDT (1:30 p.m. PDT). The conference-call dial-in number is 866-524-3160 or 412-317-6760 (International); passcode “Bally”.  The webcast can be accessed by visiting BallyTech.com and selecting “Investor Relations.” Interested parties should initiate the call and webcast process at least five minutes prior to the beginning of the presentation. For those who miss this event, an archived version will be available at BallyTech.com until June 2, 2014.

About Bally Technologies, Inc.

Founded in 1932, Bally Technologies (NYSE: BYI) provides the global gaming industry with innovative games, table game products, systems, mobile, and iGaming solutions that drive revenue and provide operating efficiencies for gaming operators.  For more information, please contact Mike Trask, Senior Manager, Marketing & Corporate Communications, at 702-532-7451, or visit http://www.ballytech.com.  Connect with Bally on Facebook, Twitter, YouTube, LinkedIn and Pinterest.