International edition
June 16, 2021

Revenue slid less than half a percent to us$ 195.2 million

Bally fourth quarter net income jumps 54 %

(US).- Gaming equipment maker Bally Technologies fourth-quarter net income jumped 54 %, boosted by sale of Mississippi Casino. For April through June, the company said that net income rose to us$ 51 million, or 89 cents per share, from us$ 33.2 million, or 58 cents per share in the same period last year.

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owever, excluding the gain, Bally's results missed analysts' expectations as did its 2011 profit outlook. Investors sent shares lower after hours.

For April through June, Bally said net income rose to us$ 51 million, or 89 cents per share, from us$ 33.2 million, or 58 cents per share in the same period last year. Excluding a 38-cent gain on the us$ 80 million sale of the Rainbow Casino in June and other one-time items, Bally earned 55 cents per share. That's a penny less than analysts expected, according to a Thomson Reuters poll.

Revenue slid less than half a percent to us$ 195.2 million from us$ 195.9 million in the year-ago quarter, also shy of the us$ 199.8 million that analysts predicted. Revenue rose in the company's gaming operations and systems divisions. But in the gaming equipment division, revenue fell 19 % to us$ 63.5 million. The company sold fewer gaming devices due to fewer casino openings and expansions in the quarter. Old machines in North America are also being replaced at a "sluggish" rate, the company said.

For the full year, Bally's net income rose 9 % to us$137.5 million, from us$ 126.3 million,. Lower costs helped offset a 14 % drop in revenue to us$ 491.2 million from us$ 568.8 million a year earlier.

Looking ahead, Bally forecast fiscal 2011 earnings of us$ 2.05 to us$ 2.40 per share, with results expected to be strongest in the second half of the year. That's below the average estimate of us$ 2.46 per share forecast by analysts. The company also forecast 2011 systems revenue of us$ 220 million to us$ 235 million, including maintenance revenue of us$ 61 million to us$ 65 million.

In after-hours trading Bally's stock fell us$ 1.72, or 5.5 %, to us$ 29.46. Earlier, shares gained 43 cents to close at us$ 31.18.

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