Business improves for Ainsworth Game Technology
Australian gaming machine and software designer, developer and manufacturer Ainsworth Game Technology Limited has released its financial results for the six months to the end of December showing a 41 percent year-on-year increase in revenues to AUD96.5 million ($98.5 million).
Sydney-based Ainsworth Game Technology announced that earnings before interest, tax and depreciation and amortisation for the six-month period improved by 31 percent year-on-year to AUD31.9 million ($32.5 million) while its half-year net profit before tax of AUD30.1 million ($30.7 million) was 60 percent better than for the same period in 2011.
All of this saw Ainsworth Game Technology reveal six-month earnings before interest and tax of AUD28.7 million ($29.3 million), which represents a 32 percent improvement year-on-year. Net profit after tax fell by 46 percent when compared with the same period in 2011 to AUD22 million ($22.4 million) due to $8.2 million tax expense in the current period compared to an income tax benefit of $21.7 million in the prior corresponding
period as a result of recognition of deferred tax assets.
“I am pleased with the progress to date and expect continued revenue growth within North America in the second half of the 2013 financial year,” said Danny Gladstone, Chief Executive Officer for Ainsworth Game Technology.
“We continue to pursue opportunities to establish gaming operations in the Americas with products under participation or of a recurring revenue nature. At December 31, 2012, 1,096 machines were on participation, rental and lease with an additional 387 machines under trial subject to conversion to potential sale and/or lease in the second half of fiscal year 2013.
“The company is now established and globally recognised as a leading provider of high performing gaming products and has secured a solid financial position. Further revenue growth is expected within the Americas in the second half of fiscal year 2013 as new products receive regulatory approvals for installation while we continue to maintain our strong position in all established domestic markets.”
As a result of this performance, Ainsworth Game Technology declared that it intends to pay investors an unfranked interim dividend of three cents per share in April.
“The commencement of dividend payments is a result of a conservative approach to capital management coupled with strong trading over the preceding 18 months,” said Leonard Hastings Ainsworth, Executive Chairman for Ainsworth Game Technology.
“The company will continue to actively pursue opportunities to deliver growth. The introduction of dividend payments will not impact upon Ainsworth Game Technology’s ability to fund research and development, which has been the key driver of its profitability.”
Australian gaming machine and software designer, developer and manufacturer Ainsworth Game Technology Limited has released its financial results for the six months to the end of December showing a 41 percent year-on-year increase in revenues to AUD96.5 million ($98.5 million).
Sydney-based Ainsworth Game Technology announced that earnings before interest, tax and depreciation and amortisation for the six-month period improved by 31 percent year-on-year to AUD31.9 million ($32.5 million) while its half-year net profit before tax of AUD30.1 million ($30.7 million) was 60 percent better than for the same period in 2011.
All of this saw Ainsworth Game Technology reveal six-month earnings before interest and tax of AUD28.7 million ($29.3 million), which represents a 32 percent improvement year-on-year. Net profit after tax fell by 46 percent when compared with the same period in 2011 to AUD22 million ($22.4 million) due to $8.2 million tax expense in the current period compared to an income tax benefit of $21.7 million in the prior corresponding
period as a result of recognition of deferred tax assets.
“I am pleased with the progress to date and expect continued revenue growth within North America in the second half of the 2013 financial year,” said Danny Gladstone, Chief Executive Officer for Ainsworth Game Technology.
“We continue to pursue opportunities to establish gaming operations in the Americas with products under participation or of a recurring revenue nature. At December 31, 2012, 1,096 machines were on participation, rental and lease with an additional 387 machines under trial subject to conversion to potential sale and/or lease in the second half of fiscal year 2013.
“The company is now established and globally recognised as a leading provider of high performing gaming products and has secured a solid financial position. Further revenue growth is expected within the Americas in the second half of fiscal year 2013 as new products receive regulatory approvals for installation while we continue to maintain our strong position in all established domestic markets.”
As a result of this performance, Ainsworth Game Technology declared that it intends to pay investors an unfranked interim dividend of three cents per share in April.
“The commencement of dividend payments is a result of a conservative approach to capital management coupled with strong trading over the preceding 18 months,” said Leonard Hastings Ainsworth, Executive Chairman for Ainsworth Game Technology.
“The company will continue to actively pursue opportunities to deliver growth. The introduction of dividend payments will not impact upon Ainsworth Game Technology’s ability to fund research and development, which has been the key driver of its profitability.”
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