Casino equipment maker Bally Technologies Inc. on Monday raised the low end of its fiscal 2008 earnings outlook range, sending shares up in aftermarket activity.
The company now expects a profit of $1.78 to $1.90 per share. Previously, the company predicted a profit of $1.60 to $1.90 per share.
On an adjusted basis, Bally now expects a profit of $1.93 to $2.05 per share, compared with an earlier estimate for $1.75 to $2.05 per share.
Shares of Bally rose $1.80, or 4.9 percent, to $38.60 in after-hours trading, after finishing regular trading up $1.14, or 3.2 percent, at $36.80.
Bally also raised its full-year revenue outlook above $885 million. Previously, the company forecast fiscal 2008 revenue of more than $875 million.
Analysts polled by Thomson Financial expect a profit of $1.79 per share on $894 million in revenue for the fiscal year ending in June.
For fiscal 2009, Bally predicted a profit of $2.10 to $2.50 per share, or between $2.27 and $2.67 on an adjusted basis.
Analysts expect a profit of $2.24 per share.
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