Punters cheer eBet's earnings guidance

The gaming machines and systems supplier lifted in morning trade after better-than-expected earnings guidance for 2012-13.

Shares in gaming machines and systems supplier eBet (EBT) jumped in early trade following its full-year profit guidance.

eBet expects to book a normalised pre-tax profit of between $2.8 million and $2.9 million in 2012-13, which would be a 15% to 19% increase over the previous year.

The guidance is ahead of the $2.7 million consensus forecast on Bloomberg and the company credits ongoing increase in system sales in New South Wales and Queensland, continued interest in its CARD IT technology, and growth in its annuity revenue for the good result.

The stock, which is part of the Uncapped 100, is up 6 cents, or 3.7%, at $1.61.

The company will announce its full year result on August 15. We flagged the expected good result over a month ago in The small cap with the biggest earnings upgrade.

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