The figures compared with $21.3 million in net income, or 37 cents a share, reported in the same quarter a year ago.

Analysts polled by Thomson Reuters had predicted earnings of 49 cents a share for Bally Technologies.

Revenue increased to $237.4 million compared with $189 million a year ago.

“The continued momentum in all of our technology businesses drove first-quarter earnings,” Bally CEO Richard Haddrill said in a statement. “Despite challenging economic and capital market conditions, we continue to grow our businesses through innovation and execution, which are driving market-share gains.”

During the quarter, Bally shipped 6,598 new slot machines, a 28 percent increase from a year ago. Revenues from the slot machine sales were $107 million, an increase of 27 percent.

Sales from casino and slot machine management systems were $52 million, an increase of 33 percent.

Bally reported earnings after the stock markets closed Thursday. Shares of the company ended the day at $21.13 on the New York Stock Exchange, down $2.17 or 9.31 percent.

In a note to investors before earnings were released, Morgan Joseph gaming analyst Justin Sebastiano estimated that Bally’s share of the domestic slot machine market had been in the low teens, but could be nearing 20 percent to 25 percent this quarter.

“The company has been known for its strength in the stepper (mechanical reel) market but it has made significant gains on the video side of the business on both the domestic and international fronts,” Sebastiano said.

Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871.