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REFILE-UPDATE 1-Bally Technologies' Q4 profit beats Street

Wed Aug 20, 2008 5:23pm EDT

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Aug 20 (Reuters) - Casino gaming equipment maker Bally Technologies Inc (BYI.N) beat market estimates with a 69 percent rise in fourth-quarter profit on strong sales of its computerized monitoring systems and backed its fiscal 2009 profit outlook, sending its shares up as much as 6 percent.

Las Vegas-based Bally reported net income of $31.3 million, or 54 cents a share, up from $18.5 million, or 33 cents a share, a year earlier.

Excluding stock-based compensation expense, the company earned 57 cents a share.

Bally, which also owns and operates the Rainbow Casino in Vicksburg, Mississippi, said total revenue rose 22 percent to $247 million in the quarter.

Analysts on average expected the company to earn 53 cents a share, before items, on revenue of $242.3 million, according to Reuters Estimates.

The company, whose rivals include International Game Technology (IGT.N) and Shuffle Master Inc (SHFL.O), said its systems segment, which includes the sale and support of computerized monitoring systems, achieved a revenue growth of 52 percent.

While revenue from its gaming equipment unit, including the sale of gaming devices, rose 9 percent, the company's gaming operations business, which includes the lease and rental of gaming devices, climbed 36 percent.

The company, which makes reel-spinning slot machines, video gaming machines and enterprise computer systems used by casinos to monitor their gaming operations, said its gaming equipment division shipped over 7,360 sale units in the quarter, up from 7,241 units, a year earlier.

For fiscal 2009, Bally expects net earnings of $2.10 a share to $2.50 a share. Excluding items, the company expects to earn $2.27 a share to $2.67 a share.

Shares of the company were up $1.92 at $33.25 in trading after the closing bell. They had closed at $31.33 Wednesday on the New York Stock Exchange. (Reporting by Dhanya Skariachan in Bangalore; Editing by Anil D'Silva)

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