Multimedia Games’ First Quarter Revenue Rises 21.6% to $34.8 Million; Reports Diluted EPS of $0.21 Inclusive of $0.07 Per Diluted Share Benefit from Non-Recurring Items

- Sells 408 New Units and Adds 254 Net New Units to Domestic Installed Base in Q1 -

- Raises Fiscal 2012 Diluted EPS Outlook to a Range of $0.42-$0.45 -

AUSTIN, Texas — (BUSINESS WIRE) — February 1, 2012 — Multimedia Games Holding Company, Inc. (Nasdaq: MGAM) (“Multimedia Games” or the “Company”) today reported operating results for its fiscal 2012 first quarter ended December 31, 2011, as summarized in the table below:

Summary of 2012 Q1 Results

(In millions, except per-share and player terminal data)

 

Three Months Ended
December 31,

2011   2010
Revenue $ 34.8 $ 28.6
EBITDA(1) $ 16.3 $ 10.5
Net income (loss) (2) $ 5.8 $ (1.4 )
Diluted income (loss) per share (2) $ 0.21 $ (0.05 )
 

New proprietary units sold

408 201
 
Average participation installed units:
Domestic 9,506 8,442
International (3) 2,862 4,667
 
Quarter-end participation installed units:
Domestic 9,633 8,672
International (3) 2,226 4,451

(1)

 

EBITDA is defined as earnings (loss) before net interest expense, income taxes, depreciation, amortization and accretion of contract rights. A reconciliation of EBITDA to net income (loss), the most comparable Generally Accepted Accounting Principles (“GAAP”) financial measure, can be found attached to this release.

 

(2)

Net income and diluted income per share for the three-month period ended December 31, 2011, includes a one-time tax benefit totaling $1.0 million, or $0.04 per fully diluted share, and a gain on the sale of used equipment back to the original manufacturer totaling $0.9 million, or $0.03 per diluted share.

 

(3)

International participation installed units reflect placements in Mexico.


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