Exhibit 99.1





TRANSACT TECHNOLOGIES REPORTS FOURTH QUARTER 2012 RESULTS

HAMDEN, CT – March 6, 2013 –
TransAct Technologies Incorporated (NASDAQ: TACT), a global leader in market-specific solutions, including printers, terminals, software and other products for transaction-based and other industries, today announced financial results for the three months and full year ended December 31, 2012.  Summary results for the periods are as follows:
 
   
Three months ended December 31,
   
Full year ended December 31,
 
(in $000s, except EPS)
 
2012
   
2011
   
% change
   
2012
   
2011
   
% change
 
Net Sales
 
$
19,616
   
$
13,645
     
43.8%
 
 
$
68,386    
$
65,969      
3.7%
 
                                                 
 As reported (GAAP):                                                
     Operating income
   
2,870
     
866
     
231.4%
 
   
5,602
      6,989     -19.8%
 
     Net income
   
1,882
     
570
      230.2%
 
    3,621       4,676    
-22.6%
 
     Diluted earnings per share
 
$
0.21
   
$
0.06
      250.0%
 
 
$
0.40
   
$
0.49
   
-18.4%
 
 
Adjusted (non-GAAP):                                                
    Operating income
   
3,176
     
881
     
260.5%
 
   
7,553
      7,332     3.0%
 
    Net income
    2,083      
580
      259.1%
 
    4,885       4,905    
-0.4%
 
    Diluted earnings per share
 
$
0.23
   
$
0.06
      283.3%
 
 
$
0.54
   
$
0.51
   
5.9%
 
 
“Overall, it was a successful year for TransAct,” said Bart C. Shuldman, Chairman and Chief Executive Officer of TransAct Technologies.  “We finalized a major transition where we commenced manufacturing of higher value products for our new oil and gas exploration market, as well as the new Ithaca 9700 for food safety for restaurants and other food service venues around the world.  These products, along with our EPICENTRAL® Print System, present a significant revenue opportunity for TransAct by combining software and hardware to provide benefits to our customers while enabling us to market higher margin technology.  In addition, we returned almost $6.5 million to shareholders through repurchases of our shares and our new quarterly dividend program, highlighting our strong cash flow generation.  We look forward to 2013 where we will continue to focus our efforts on our newly launched products, as well as our EPICENTRAL® Print System software.”

Mr. Shuldman continued, “Aided by a significant order for our lottery printers from GTECH, we achieved a record fourth quarter in terms of diluted earnings per share.  For the fourth quarter of 2012, our worldwide casino and gaming sales increased 5% from the prior-year period, led by solid double-digit domestic growth.  Lottery sales from GTECH were up 641% from the prior-year period to $6.4 million as we completed a very large order in the fourth quarter of 2012.  Printrex printer sales for the fourth quarter of 2012 were $1.1 million, down 16% from the prior-year period due to near-term over-supply in the natural gas market.  TransAct Services Group revenue decreased 15% compared to the prior-year period, due primarily to lower consumable sales.  Food service, banking and POS printer sales increased 44% compared to the prior-year period largely on higher POS sales as we rolled out printers for a new application for McDonald’s checkout counters.  Lastly, our balance sheet remains very healthy with $7.5 million in cash and no debt outstanding as of December 31, 2012.”

 
 

The following information was filed by Transact Technologies Inc (TACT) on Wednesday, March 6, 2013 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