BMM Testlabs says EBITDA up 17 pct in fiscal 2014

May 18, 2015 Newsdesk Industry Talk, Latest News, Top of the deck  

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Gaming machine and systems testing specialist BMM Testlabs said in a statement on Friday that its earnings before interest, taxation, amortisation and depreciation (EBITDA) increased by 17 percent in financial year 2014.

It added that revenues increased by 6 percent and “cash” by 11 percent. The privately-held firm didn’t give further details. But it cited “prudent financial management” for the improvement in EBITDA and cash, which it said had been achieved despite the depreciation of currencies in some of its international markets relative to the U.S. dollar.

“BMM’s commitment to service differentiation and innovation in product testing and certification has driven improved share in key markets around the world, with material growth emanating from the U.S., Canada, Europe and Asia,” said Martin Storm, president and chief executive of BMM Testlabs, in the statement.

Mr Storm added that as well as achieving financial goals the firm had achieved “significant operational performance milestones,” including expanding its specialist quality assurance testing business to more than 50 engineers.

“We also increased our U.S. jurisdictional access significantly, expanded testing facilities in Las Vegas [Nevada, U.S.] and Moncton [New Brunswick, Canada], and opened new labs in Vienna [Austria] and Bologna [Italy]. Importantly we delivered major version releases of our Toolbox, BOAT and Signatures software for our customers,” added Mr Storm.

The company says it has been testing and certifying “the full scope of Class III casino products” for two decades. The latter is a reference to casino slot machines with individual random number generators installed in each unit.

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