Bally Technologies reports increase in income

Bally Technologies saw higher income in the first quarter of 2010, the company said in its first quarter earnings report today.

The Las Vegas-based gaming supply company said net income increase slightly to $31 million, or 53 cents per share, during the first quarter of 2010 compared to $30 million, or 52 cents per share, in the same period of 2009.

Both net income and earnings per share were a record for a first quarter, the company said.

“Despite the challenging economy, our strong product portfolio and diversified business model drove yet another very profitable quarter,” Bally Chief Executive Officer Richard Haddrill said.

Revenue fell 17.7 percent to $195.5 million from $237.4 million during the year-over-year period.

Casino operations revenue fell 8 percent to $9.2 million during the first quarter of 2010 from $10 million in the same quarter of 2009.