Multimedia Games Reports Third Quarter Revenue of $50.3 Million

Installed Base Increases 415 Units on a Quarterly Sequential Basis,
Driving Record Gaming Operations Revenue of $38.0 Million

AUSTIN, Texas — (BUSINESS WIRE) — July 30, 2014 — Multimedia Games Holding Company, Inc. (Nasdaq: MGAM) (“Multimedia Games” or the “Company”) today reported operating results for its fiscal 2014 third quarter ended June 30, 2014, as summarized below:

 

Summary of 2014 Q3 Results
(In millions, except per share and unit data)

 
      Three Months Ended
June 30,
2014     2013
Revenue $ 50.3 $ 48.1
Operating income(1) $ 12.5 $ 14.0
Net income(1) $ 7.6 $ 8.4
Diluted earnings per share (1) $ 0.25 $ 0.28
Adjusted diluted earnings per share (2) $ 0.26 $ 0.28
 
EBITDA (1,3) $ 25.9 $ 25.0
 
Units sold 616 647
 
Domestic participation installed units:
Average 12,882 11,946
Quarter-end 13,167 12,163
 
(1) Operating income, net income, EBITDA and diluted earnings per share for the three month period ended June 30, 2014 reflect pre-tax, non-recurring severance related charges of approximately $0.6 million, or $0.01 per diluted share.
(2) Adjusted diluted earnings per share represents the add-back of the non-recurring severance related charges incurred during the three month period ended June 30, 2014.
(3) EBITDA is defined as net income before net interest expense, income taxes, depreciation, amortization and accretion of contract rights. A reconciliation of EBITDA to net income, the most comparable Generally Accepted Accounting Principles (“GAAP”) financial measure, can be found attached to this release.
 

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