Multimedia Games 3Q net income rises

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AUSTIN, Texas (AP) ? Multimedia Games Holding Co., which creates and distributes casino gaming systems, said Thursday that its net income increased in the latest quarter as revenue from its gaming operations climbed.

Shares of the company rose more than 5 percent in trading.

For the fiscal third quarter, which ended in June, the company earned $2.8 million, or 10 cents per share, compared with $360,000, or a penny per share, a year ago.

Excluding one-time charges, the company earned 12 cents per share. Analysts polled by FactSet expected 3 cents per share.

Revenue rose 15 percent to $33.4 million. Revenue from gaming operations, which makes up the majority of its revenue, rose 3 percent to $24.6 million.

Revenue from gaming equipment and system sales rose 73 percent to $8.5 million, more than half of which stemmed from the sale of 251 new gaming units during the quarter, up from 128 gaming units sold a year earlier.

The company expects revenue in the current quarter to be about the same as the $29.1 million the company reported in the same period a year ago.

Shares rose 22 cents, or 5.2 percent, to $4.45 in afternoon trading Thursday after the release of results.