Texas-based developer and provider of various gaming solutions Multimedia Games reported on its revenue for the 2013-2014 fiscal year. The company announced that its introduction to new markets as well as its constantly increasing catalogue of products was what contributed most to the generation of record overall income.
The overall turnover for the period between October 1, 2013 and September 30, 2014 amounted to $218.1 million. By comparison, the company gained a total of $189.4 million last year. Adjusted profits before interest, tax, depreciation, and amortization were subtracted added up to $112.8 million. This time last year, Multimedia generated EBITDA of $95.7 million.
The company, however, posted a decrease in operating income. It generated the amount of $51.9 million as opposed to $52.4 million back in 2013. A drop could also be noticed in net income. Multimedia acquired $31.9 million in 2014 and $34.9 million in the previous fiscal year. Yet another decrease was posted – in the diluted earnings per share. This time last year, they were reported to be $1.14 per share. During the 2013-2014 fiscal year, however, they amounted to $1.02 per share.
Earlier this year, Multimedia Games was announced that it was to become part of Global Cash Access, the latter being one of America’s most popular providers of cash access products mostly for the gaming industry both within the territory of the country and abroad. The transaction of shares between the two firms is to come to an end in the beginning of 2015.
It is also really important to note that the gaming company posted fairly flat fourth-quarter turnover, amounting to $50.5 million. Multimedia Games’ 4Q EBITDA scored a slight increase – $26.9 million. Yet, the company reported on a decrease in its operating income, totaling $6.9 million. By comparison, it amounted to approximately $13 million in the previous quarter. Net income also dropped significantly to $3.8 million as opposed to $10 million in the third quarter of this financial year.
Multimedia Games’ current managing director Patrick Ramsey was more than glad to comment on the excellent financial performance of the company as well as its record results. He stated that the gaming distributor’s success was to a great extent due to the expansion to various markets as well as to their urge to expand even further. What is more, he reminded that the company’s catalogue of products was constantly growing throughout this financial year and more new gaming solutions were expected to be added to it.
Not long ago, the Austin-based provider announced the acquisition of eTable. In addition, Mr Ramsey shared that they were itching to introduce their latest products to their customers – Platinum MPX and The Texan HDX, which had been shown at the Global Gaming Expo in Las Vegas.
