Slots Maker Balley Technologies Reports Record Growth - 05-14-08

May 14 - Balley Technologies, one of the most established and reputable slot machine creators in the industry, has posted its quarterly earnings, showing a marked improvement from last year.

The company produces a diverse range of slot machines, including reel-spinning machines, video slots, lottery products, as well as central determination games and platforms for the casino industry around the world. Balley Technologies reported that in the last quarter alone, the company had shipped over 7,500 units to locations around the globe.

Among the impressive numbers in the last financial report, Balley Technologies showed that it had managed to generate net income of $30.2 million, compared with $6.6 million last year. In share price concepts, this meant a rise from 12 cents a share last year to a significant 52 cents a share in the last quarter - a five fold increase.

Slot industry analysts had previously predicted that Balley Technologies would earn 48 cents a share.

The company's revenues increased by 33% to $232.6 million, with analysts predicting the number to be slightly less at $231 million before these numbers were posted.

Revenue from gaming operations increased by 32% to just under $60 million, while the clear revenue winner was gaming systems and equipment which brought in revenues of $160 million - a jump of 37%.

Share prices on the New York Stock Exchange closed this week at around $37.00 each. Balley Technologies predicted that the company would make between $2.27 and $2.67 profit on each share in the 2009 fiscal year.

Balley Technologies expects to earn around $885 million in revenue next year.

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