Bally Technologies narrows fiscal 2009 profit view

LAS VEGAS - Casino equipment maker Bally Technologies Inc. narrowed its fiscal 2009 profit outlook on Thursday, saying it now expects to earn $2.15 to $2.45 per share.

The company had previously forecast earnings of $2.10 to $2.50 per share. The new forecast represents growth of 16 percent to 32 percent over the $1.85 per share earned in its 2008 fiscal year.

On average, analysts polled by Thomson Reuters expect profit of $2.29 per share on $996.1 million in revenue. Their estimates generally exclude one-time items.

The company said the change takes several factors into account, including the economic slowdown and some of its customers' increased financial challenges.

"Our balance sheet and liquidity position are very strong," added Robert C. Caller, chief financial officer, in a statement. "Our recently completed $300 million financing gives us the flexibility we need to grow and take advantage of current market opportunities at a reasonable cost."

Shares closed earlier down $2.17, or 9.3 percent, at $21.13.

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