Exhibit 99.1

LOGO

TRANSACT TECHNOLOGIES REPORTS FOURTH QUARTER 2008 RESULTS

Reports Fourth Quarter Revenue Growth of 23%, Year-over-Year Revenue Growth of 28%

HAMDEN, CT – March 10, 2009 –

TransAct Technologies Incorporated (NASDAQ: TACT), a global leader in market-specific printers for transaction-based industries, today announced financial results for the three months and full year ended December 31, 2008. Summary results for these periods are as follows:

 

     Three months ended December 31,     Year ended December 31,  
(in $000s, except EPS)    2008    2007     % change     2008    2007     % change  

Net sales

   $ 14,277    $ 11,614     22.9 %   $ 62,207    $ 48,766     27.6 %

As reported (GAAP):

              

Operating income (loss)

   $ 608    $ (2,008 )   NM     $ 1,861    $ (3,755 )   NM  

Net income (loss)

   $ 636    $ (1,319 )   NM     $ 1,444    $ (2,274 )   NM  

Diluted earnings (loss) per share

   $ 0.07    $ (0.14 )   NM     $ 0.15    $ (0.24 )   NM  

Adjusted (non-GAAP) (1):

              

Operating income (loss)

   $ 608    $ (249 )   NM     $ 4,890    $ (121 )   NM  

Net income (loss)

   $ 636    $ (102 )   NM     $ 3,398    $ 92     NM  

Diluted earnings (loss) per share

   $ 0.07    $ (0.01 )   NM     $ 0.36    $ 0.01     NM  

 

(1) Adjusted non-GAAP measures exclude $1,192,000 of legal fees related to the settled lawsuit with FutureLogic, Inc. (the “FL Legal Fees”), an incremental inventory reserve charge of $528,000 specifically related to certain obsolete electronic components and discontinued printer products, and a severance charge of $39,000 in the fourth quarter 2007. Adjusted non-GAAP measures exclude $3,029,000 of FL Legal Fees in the full year ended December 31, 2008, and $2,907,000 of FL Legal Fees, an incremental inventory reserve charge of $528,000 specifically related to certain obsolete electronic components and discontinued printer products, a severance charge of $187,000 and $12,000 of restructuring expenses in 2007.

“We are very pleased with our fourth quarter 2008 results, which are especially gratifying considering the extremely difficult global economic environment,” said Bart C. Shuldman, Chairman, President and Chief Executive Officer of TransAct Technologies. “Overall, we saw 23% year-over-year growth in revenue during the quarter, and a significant improvement in earnings to $0.07 per diluted share.”

Mr. Shuldman continued, “We continued to see the positive results in our fourth quarter as our TransAct Services Group saw a 27% increase in revenue aided by our partnership with NCR. In addition, we experienced solid growth in shipments from our new business with McDonald’s, and our international casino and gaming revenue grew 16% on a year-over-year basis due to continued growth of off-premise gaming sales and we continued to gain market share with our domestic casino customers. While we expect rough times ahead given the nearly unprecedented economic conditions, we remain focused on building on the success we had in 2008 by launching at least three new products in 2009 and controlling our expenses given the current operating environment.”

Fourth Quarter and Subsequent Highlights

 

   

October 2 – TransAct Technologies, with its Epic 950® printer, selected as exclusive printer provider by Indiana casinos

 

   

November 5 – TransAct Technologies, with its Epic 950® printer, selected as exclusive printer provider for the new Snoqualmie Casino in Snoqualmie, Washington


The following information was filed by Transact Technologies Inc (TACT) on Tuesday, March 10, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Transact Technologies Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Transact Technologies Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account