On May 5th, 2009, Bally Technologies states that the ongoing financial crisis affected the organization’s third quarter overall results as the slot machine manufacturer matched gaming analysts’ estimates. Bally, which is based in Las Vegas, Nevada said that it posted a net profit of $29.3 million in the quarter that ended March 31st, 2009, which translated into profits per share of fifty-two cents.
A year ago, the organization reported a net profit of $30.2 million or fifty-two cents per share. During the period, company revenues drop 10.7% to $207.6 million, compared with company revenue of $232.6 million a year ago. Aside from slot machines, Bally Technologies offers technology and systems for casino gaming management and slot machine management.
Bally Chief Executive Officer Richard Haddrill said that their diversified business gaming model influenced another good quarter despite the global financial crisis. Bally Technologies said that it plans to debut several brand new slot machine titles and gaming products in an effort to improve sales.
Morgan Joseph gaming analyst Justin Sebastiano said that Bally continues to make great developments on the video side of the business on both the domestic market and international market. Bally announced quarterly earning after the close of dealing on the New York Stock Exchange. Shares of Bally closed at $28.52, down by seventy-one percent.