Casino supplier Bally Technologies Inc. today said its operating income fell in its fourth fiscal quarter, even as revenue increased.
The Las Vegas company posted operating income of $43.9 million for the quarter ended June 30, down from $48.4 million in the year-ago quarter.
Revenue increased from $195.3 million to $213.7 million.
Net income fell because of several one-time items in the 2010 and 2011 quarters.
Net income of $25.5 million or 51 cents per share was down from $51 million or 89 cents.
The 2010 quarter included nearly $24 million in gains and income from discontinued operations.
The 2011 quarter included a $4.1 million loss on the early extinguishment of debt.
The company said revenue from slot machine sales, gaming operations and systems all increased during the quarter. But operating income fell as costs increased.
For all of fiscal year 2011, new gaming device sales of 13,537 were down from 17,334 in the 2010 fiscal year, with Bally citing ``a sluggish North America replacement market, fewer new casino openings and expansions and lower international sales.’’
Bally executives today highlighted steps they’ve taken to bolster the company’s balance sheet, including buying back nearly $475 million of company stock.
“The highlight of Bally’s fiscal 2011 was the positioning we accomplished for the future,” CEO Richard Haddrill said in a statement.