International edition
September 30, 2020

As cost cuts offset lower sales

Bally Technologies first quarter profit up slightly

(US).- Slot-machine maker Bally Technologies Inc. said this week that its fiscal first-quarter earnings inched higher despite declining sales, mostly due to a 34 % drop in costs during the period.

T

he company earned us$ 30.6 million, or 53 cents per share, compared with us$ 30.3 million, or 52 cents per share, a year earlier. Revenue fell 17 % to us$ 196.5 million.

The profit result matched Wall Street's expectations, but sales fell short. Analysts polled by Thomson Reuters expected a profit of 53 cents per share on sales of us$ 205.4 million.

For fiscal 2010, the company raised its earnings outlook to between us$ 2.30 and us$ 2.55 per share, from an earlier range of us$ 2.25 to us$ 2.50. Bally said that the weak economy and sluggish gaming machine market will be offset by new product introductions and improved customer spending.

The stock closed up 71 cents at us$ 38.76, and climbed 3.2 % to us$ 40 in aftermarket trading.

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