Bally Technologies (BYI): Share price defines bullish 'pennant'

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Bally Technologies (BYI): Share price defines bullish 'pennant'
May 16, 2008 12:24 PM UTC

Larry Schutts

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Symbol	Sentiment	Start	Return	Closed
BYI		05/16/08	+3.80%	--

Via BloggingStocks:

Filed under: Earnings reports, Technical Analysis, Stocks to Buy

Bally Technologies (NYSE: BYI) designs, manufactures, operates and distributes advanced gaming devices and associated information systems. Products include reel-spinning slot machines, video slots, wide-area progressives and lottery games, as well as an array of casino management, slot accounting, bonusing, cashless operation and table management systems. Bally also owns and operates the Rainbow Casino in Vicksburg, Mississippi.

The company pleased investors earlier in the week, when it announced fiscal Q3 EPS of 52 cents and revenues of $232.6 million. Analysts had been expecting 48 cents and $231 million. Operating income increased to 24% of revenue from 10% in the comparable period last year and from 20% in the December 2007 quarter. Management also guided FY08 EPS to $1.78-$1.90 ($1.79 consensus), FY08 revenues to levels above $885 million ($894.02M consensus) and FY09 EPS to $2.10-$2.50 ($2.24 consensus).

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