Bally Technologies reports lower 3rd-quarter profit, revenueBy AP
Thursday, April 29, 2010
Bally Technologies posts lower 3Q profit
LAS VEGAS — Bally Technologies Inc., a gaming equipment maker, said Thursday its fiscal third-quarter profit declined, hurt by lower revenue and higher expenses.
For the three months ended March 31, the company earned $22.6 million, or 39 cents per share, down 23 percent from $29.3 million, or 52 cents per share, in the same period a year earlier. The latest quarter’s results included an impairment charge of $11.4 million, or 13 cents per share, related to its business in Alabama, where electronic bingo parlors face a possible shutdown.
Adjusted earnings were 52 cent per share, a penny above Wall Street’s expectations.
Revenue slid 3 percent to $190.6 million from $196.8 million.
Analysts, on average, were expecting a profit of 51 cents per share on revenue of $196.3 million, according to a survey by Thomson Reuters.
The quarter’s expenses rose 4 percent to $155.6 million.
Shares slid 3 cents to $46.04 in after-hours trading. The stock had closed up $1.73, or 3.9 percent, at $46.03.