For the fiscal year that ended on 30 June 2007 Bally Technologies today announced that in its fourth quarter total revenue increased to US$202.4 million, a rise of 31% on its fourth quarter 2006 performance. Earnings for the period were US$18.5 million, compared to a US$12.0 million loss the previous year, gaming equipment revenues increased 46% to US$104.7 million, and gaming operations revenues increased 40% to US$36.1 million.
Bally’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."
On the down side a decrease in content licence revenue was reported for the three months to 31 March 2007, due to a fall in lottery licence revenue after a change of law in Iowa required the removal of lottery systems in that state. There was also a decrease in linked progressive revenue due to a decrease in the installed base of games.
The March 31 and June 30 quarters saw a 66% and 81% increase in participation and rental revenue. Bally’s installed base of centrally determined games grew with additional games in Washington, Florida, Mexico, Texas and Wisconsin. The installed base of rental and daily fee games increased, due primarily to the popularity of the company’s Hot Shot Progressive product line.
Research and Development costs rose 15% year over year as a result of Bally’s focus on technology assets and the competitive landscape that requires a continual investment in future generations of gaming products and systems. Bally Manufacturing Company was founded in Chicago on 10 January 1932, starting with a small wooden pinball machine. Three-quarters of a century later Bally Technologies’ gaming machines and systems are found all over the world in thousands of gaming operations, and the company can look forward to the next 75 years in the gaming business. (E-11.01.07)
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