LAS VEGAS, February 1, 2012 — Bally Technologies, Inc. (NYSE: BYI), a leader in slots, video machines, casino management, interactive and mobile applications, and networked systems for the global gaming industry, announced today diluted earnings per share (“diluted EPS”) of US$0.54 and US$0.99 on revenue of US$210 million and US$405 million for the three months and six months ended December 31, 2011, respectively.
“As we celebrate 80 years of success, I am proud that Bally remains a source of true innovation with exciting growth opportunities,” said Richard M. Haddrill, the company’s Chief Executive Officer. “Our recent innovations have resulted in four consecutive quarters of year-over-year revenue and earnings-per-share growth. Numerous of our investments of recent years are now producing good results.”
“In addition to repurchasing approximately 330,000 of our shares during the quarter for US$10 million, we also paid down US$19 million of debt which reduced our leverage ratio to below 2.0 times,” said Neil Davidson, the company’s Chief Financial Officer. “This quarter represents the 17th quarter in a row that we have repurchased stock.”
As of December 31, the company had US$111 million available under its board-authorised share repurchase plan. Further, as long as the company’s leverage ratio remains below 2.0 times, the company’s share repurchases are not restricted under the terms of its credit agreement. The decline below 2.0 times also resulted in a 25-basis point decline in the company’s borrowing costs.
