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Bally Technologies reports results1 November 2007LAS VEGAS, Nevada -- (PRESS RELEASE) -- Bally Technologies, Inc. (NYSE: BYI) announced today diluted earnings per share ("Diluted EPS") for the fiscal year ended June 30, 2007, of $0.40 and revenue of $682.3 million. The Company's Chief Executive Officer, Richard M. Haddrill, commented, "Our fourth quarter fiscal 2007 financial results are beginning to reflect the improved financial and operational strength of Bally. In addition to a 31 percent increase in total revenue, we are pleased with our progress on margins, especially the 41 percent in game sale margins. We expect this momentum will continue to drive improved performance into fiscal 2008." The Company also announced it expects to file its Annual Report on Form 10-K for the fiscal year ended June 30, 2007 ("2007 Form 10-K") and its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2007 (collectively, the "Filings") with the Securities and Exchange Commission on Friday, Nov. 2, 2007. Fiscal 2007 Fourth Quarter Highlights -- Total revenue increased to $202.4 million as compared with $154.9 million for the same period of the prior year, an increase of 31 percent. -- Earnings were $18.5 million as compared with a loss of $12.0 million in the fourth quarter of last year. -- Earnings per fully diluted share were $0.33 as compared with a fully diluted loss per share of $0.23 in the prior year. -- Earnings per fully diluted share adjusted for share-based compensation ("Adjusted EPS") were $0.37 compared with a $0.19 loss per share in the prior year. -- Gaming Equipment revenues increased to $104.7 million from $71.5 million in the prior year, an increase of 46 percent. -- The margin for gaming equipment sold increased to 41 percent for the fourth quarter from 35 percent in the third quarter of fiscal 2007. -- The Company sold 7,241 new units as compared with 5,523 in the prior year, an increase of 31 percent. -- Gaming Operations revenue increased to $50.6 million from $44.7 million in the third quarter of fiscal 2007, a sequential increase of 13 percent. -- Gaming Operations revenue increased by 40 percent from $36.1 million in the prior year. -- Revenues from the Company's casino operations in Vicksburg, Miss., were $11.6 million as compared with $11.1 million in the prior period, an increase of 5 percent. Fiscal 2007 Highlights -- Total revenue increased to $682.3 million for the year as compared with $541.6 million in the prior year, an increase of 26 percent. -- Net income increased to $22.3 million in the current year from a net loss of $46.1 million in the prior year. -- Earnings per fully diluted share were $0.40 compared to a fully diluted loss per share of $0.88 in the prior year. -- Earnings per fully diluted share adjusted for share-based compensation were $0.58 compared to a $0.72 loss per share in the prior year. -- Gaming Equipment revenues increased to $324.1 million from $225.1 in the prior year, an increase of 44 percent. -- The Average Selling Price ("ASP") of new units increased 24 percent to $12,617 in fiscal 2007 from $10,182 in the prior year. -- The Company sold 21,372 new units as compared with 17,887 in the prior year, an increase of 19 percent. -- The margin for gaming equipment sold increased to 36 percent for fiscal 2007 as compared with 19 percent in the prior year. -- Gaming Operations revenue increased to $176.4 million in fiscal 2007 from $147.0 million in the prior year, or 20 percent. -- Systems revenue increased to $134.1 million from $120.5 million in the prior year, an increase of 11 percent. -- Revenues from the Company's casino operations in Vicksburg, Miss., were $47.7 million as compared with $49.0 million in the prior year, a decrease of 3 percent. -- Adjusted EBITDA was $138 million, as compared with $50 million in the prior year. -- Cash and cash equivalents increased to $40.8 million from $16.4 million in the prior year. |