CasinoCityTimes.com

Gurus
News
Newsletter
Search News Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!

Gaming News

 

Bally Technologies provides update

22 August 2007

LAS VEGAS, Nevada -- (PRESS RELEASE) -- Bally Technologies, Inc. (NYSE: BYI) today provided a business update on its expected operating results for its fiscal year ended June 30, 2007. The Company reiterates its previous guidance and expects its fiscal 2007 revenues will be in the range of $670 million to $690 million. In addition, it expects that diluted earnings per share ("Diluted EPS") will exceed $0.34, and that adjusted diluted earnings per share after adding back stock-based compensation ("Adjusted EPS") will exceed $0.51 for the fiscal year ended June 30, 2007. These results are unaudited and are subject to change.

The Company currently plans to file its Form 10-K for the fiscal year ended June 30, 2007, by the end of September 2007. The Company plans to file its Form 10-Q for the quarterly period ended March 31, 2007, immediately prior to filing its 2007 Form 10-K.

The Company's Chief Financial Officer, Robert C. Caller, commented, "We are pleased that our preliminary fiscal 2007 operating results show that the Company has returned to solid profitability in the second half of fiscal 2007." Guidance -- Fiscal Year 2008

The Company expects Diluted EPS of approximately $1.25 to $1.55 and Adjusted EPS of approximately $1.39 to $1.69 for the fiscal year ending June 30, 2008.

The Company expects revenues in fiscal 2008 will exceed $830 million, with continued growth in game sales, gaming operations and system revenues. The Company forecasts an increase in the placement of premium daily fee games and an increase in the number of gaming devices sold, and also expects margins on game sales and operations to continue to improve in fiscal 2008. The Company expects its selling, general and administrative expenses as a percentage of revenue to be lower in fiscal 2008 as compared with fiscal year 2007 as a result of the increase in revenues and a decrease in certain professional fees.

"I am pleased with the continued revenue growth from all of our products, and our new product pipelines across all of our business lines look strong," said Richard Haddrill, the Company's Chief Executive Officer. "Further, we are making good progress on improving both gross margins and overall operating leverage."

The Company has provided this broad range of earnings guidance in an attempt to give investors general information on the overall direction of its business. This guidance is subject to numerous uncertainties, including, among others, overall economic conditions, the market for gaming devices and systems, competitive product introductions, complex revenue recognition rules related to the Company's business, and assumptions about the Company's new product introductions and regulatory approvals. The Company may update this fiscal 2008 guidance from time to time as the year progresses.

< Gaming News