 Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! |
Gaming News
Multimedia Games’ announces Q4 results16 November 2012AUSTIN, Texas -- (PRESS RELEASE) -- Multimedia Games Holding Company, Inc. (MGAM) today reported operating results for its fiscal 2012 fourth quarter and full year ended September 30, 2012, as summarized below. In addition, the Company provided fiscal 2013 guidance for several financial metrics, including diluted EPS of $0.60-$0.65, which represents a year-over-year increase of approximately 12%-21% over fiscal 2012 pro-forma diluted EPS when applying a 38% tax rate for fiscal 2012. Patrick Ramsey, President and Chief Executive Officer of Multimedia Games, commented, “Multimedia’s fourth quarter and full year 2012 results reflect continued success in developing high performing gaming products and further progress with expanding our total addressable market. Highlights from the fiscal 2012 fourth quarter include a 5% quarterly sequential and 14% year-over-year increase in our domestic installed base, strong quarterly unit sales in a record 16 states and a doubling of our installed base of premium participation High Rise Games® to 198 units. As a result, we generated another period of strong financial performance marked by year over year operating income, EBITDA and net income growth, each of which outpaced the 16% revenue growth achieved in the quarter. “Our growing portfolio of attractive, differentiated games and themes that address customers’ needs across all gaming markets continue to drive solid demand for our products. We see strong customer demand for our unique TournEvent® slot tournament system, which represented 34% of total units sold during the quarter. TournEvent is revolutionizing slot tournaments and generating strong performance for our customers and is installed in 117 casinos nationwide as of September 30, 2012. Highlighting the power of TournEvent, we recently kicked off the National TournEvent of Champions™, a first-of-its-kind national promotion that will begin at participating casinos early next year and culminate in Las Vegas next September. “Gaming operations remains a key driver of Multimedia Games’ growth as we continue to invest in our domestic installed base of participation games through expansion of our installed base in new and existing markets and by replacing lower performing units with new proprietary products. Our Oklahoma installed base increased by 159 units and the domestic installed base outside of Oklahoma rose 362 units during the fiscal 2012 fourth quarter, for a total quarterly sequential increase in the domestic installed base of 521 units, which is more than double the unit growth achieved in each of the three previous quarters in fiscal 2012. Included in the quarterly domestic installed base increase are new deployments of 101 High Rise Games, which are now in 11 markets outside of Oklahoma. The performance of our High Rise Games remains strong and we are excited about the prospects for continued growth in the number of deployed units throughout fiscal 2013.” Ramsey concluded, “The combination of our product development efforts and market expansion initiatives are clearly delivering the enhanced game performance and increased customer demand that is driving continued improvement in our financial results. Our growing product momentum leads us to believe that we are moving the right direction, particularly as Multimedia Games plans to enter larger U.S. gaming markets, including Nevada, later in fiscal 2013. As such, in fiscal 2013, we expect to achieve solid increases in the number of units we sell and continued growth in our domestic installed base, which is expected to drive year-over-year improvements in revenues, EBITDA and operating income.” |