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)
As reported (GAAP):
Diluted earnings per share
Diluted earnings per share
“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 this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed, and by Transact Technologies Inc.
Ticker: TACT CIK: 1017303 Form Type:10-K Annual Report Accession Number: 0001017303-13-000017 Submitted to the SEC: Fri Mar 15 2013 3:40:23 PM EST Accepted by the SEC: Fri Mar 15 2013 Period: Monday, December 31, 2012 Industry: Computer Peripheral Equipment