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Bally Releases Fourth Quarter 2012 Results

U.S. gambling giant Bally Technologies has released its fourth quarter 2012 financial results, highlighting stronger than expected results.

Key financial indicators for the period ending June 30th, 2012 were:

  • Q4-2012 profit rose to $26.5 million, or 61 cents per share, from $25.5 million, or 51 cents per share, a year earlier

  • Revenue rose 15% to a record $245.8 million, with gaming equipment revenues up 33% to $97 million

  • Revenues for the year reached a new record of $880 million, up 16%, and adjusted EBITDA increased by a similar percentage to a record $282 million compared with $243 million last year

  • The company confirmed that it has repurchased $106 million of its shares since March 2012

Commenting on the company's performance, Bally CEO Richard M. Haddrill said: "Our fourth quarter and fiscal 2012 results validate our leadership position in gaming technology innovation. This innovation leadership and visibility into further growth opportunities for all of our businesses for fiscal 2013 and beyond is tremendously encouraging."

Company CFO Neil Davidson also issued a comment, saying: "During our fourth quarter we established a number of company records for revenues and profitability, prudently accrued $10 million for several legal matters. Since June 30, 2012, we purchased an additional $33 million worth of stock."

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