Bally Technologies Earnings: Beats Wall Street Estimates

Bally Technologies, Inc. (NYSE:BYI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.74%.

Bally Technologies, Inc. Earnings Cheat Sheet

Results: Net income increased 36.49% to $33.126 million (80 cents per diluted share) in the quarter versus a net gain of $24.27 million in the year-earlier quarter.

Revenue: Rose 13.23% to $238.3 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Bally Technologies, Inc. reported adjusted net income of 80 cents per share. By that measure, the company beat the mean analyst estimate of $0.76. It beat the average revenue estimate of $235.48 million.

Quoting Management:  “Our second quarter fiscal 2013 demonstrated continued momentum in all major business areas,” said Ramesh Srinivasan, the Company’s President and Chief Executive Officer. “We are excited about our scheduled product launches over the next few months, including new wide-area progressive (‘WAP’) games featuring Hot Shot Progressive® and NASCAR®, as well as the recently released Pawn Stars™ premium daily-fee game. The Elite Bonusing Suite™ is gaining further traction with additional customer purchases in the second quarter. Finally, traditional domestic replacement sales were up year-over-year for the seventh consecutive quarter, based on continued acceptance of our growing library of game content and our increasing presence in video lottery…