Bally Technologies, Inc. (BYI) Wednesday reported an increase in profit for the third quarter, helped mainly by higher revenues. Both earnings and revenues came in above analysts' expectations. The company has also raised its earnings outlook for the fiscal 2013.
Net income attributable to the company improved to $38.45 million or $0.93 per share from $29.91 million or $0.67 per share in the same period last year.
On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.85 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $259.1 million, up from $228.6 million last year. Analysts expected revenues of $245.97 million.
Gross margins improved to 65 percent from 63 percent last year.
Looking ahead, the company has raised its full-year earnings outlook to a range of $3.35 to $3.45 per share from prior guidance range of $3.20 to $3.40 per share.
Analysts currently expect the company to report full-year earnings of $3.33 per share on revenues of $971.60 million.
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