Bally Technologies Surging Ahead With Oustanding Q3 Results

Bally Technologies, one of the industry-leaders, has posted outstanding results for their 3^rd Quarter, which ended on 1^st May. The $338 m. Return destroyed analysts' predictions and showed a 31% increase from the same period in 2013.

Profits Bonanza

Ramesh Srinivasan, the company's President and Chief Executive Officer was delighted that profits increased from $85m in 2013 to $117m in the same quarter in 2014. "We achieved outstanding financial and operational results in the quarter which helped drive a record 26 percent adjusted operating margin for the first nine months of fiscal 2014 versus 23 percent in the prior year." It was not just the naked results that were impressive, Bally has pocketed a greater share of the industry's increasing technology-related spend. Growth was also spread over both domestic and international markets and was backed by strength in depth due to a broad portfolio of products, including the ProWave platform.

Year-on-Year Improvements

"We continued to set a number of financial records this quarter while generating significant free cash flow," said Neil Davidson, the company's Chief Financial Officer. He was alluding to the repayment of $68m worth of company debts accrued during the acquisition of SHFL. Bally also repurchased approximately 150,000 shares for around $10m. "We will continue to prudently utilize excess free cash flow to pay down debt with the goal of achieving a leverage ratio of 3.0 times by the end of calendar 2015," he added.

Bally maintains more than two dozen offices around the world and employs around 3,000 staff. It has recently won numerous awards for innovation and these results clearly show that this is a company with a very clear purpose and direction.