Bally Technologies Earnings: Here’s Why Shares are Up Now
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 1.79%.
Bally Technologies, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 21.79% to $0.95 in the quarter versus EPS of $0.78 in the year-earlier quarter.
Revenue: Rose 7.57% to $264.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Bally Technologies, Inc. reported adjusted EPS income of $0.95 per share. By that measure, the company beat the mean analyst estimate of $0.94. It beat the average revenue estimate of $256.36 million.
Quoting Management: “Fiscal 2013 was a truly momentous year in Bally’s history,” said Ramesh Srinivasan, the Company’s President and Chief Executive Officer. “We made enormous progress in many different ways, including continued growth in wide-area progressive (“WAP”) units, record Gaming Operations revenue, significant success in new markets like Canada, Illinois, and South Africa, establishing new revenue records in Systems while setting up Systems for further growth in the years ahead, and the launch of Bally content in regulated online jurisdictions. These achievements position us well for continued growth in fiscal 2014 and beyond.”
Key Stats (on next page)…