CORPORATE LOGO
Exhibit 99.1


TRANSACT TECHNOLOGIES REPORTS 2014 FOURTH QUARTER REVENUE OF $12.3 MILLION

Hamden, CT – March 5, 2015 –
TransAct Technologies Incorporated (Nasdaq: TACT) (“TransAct” or the “Company”) today reported operating results for the fourth quarter and full year period ended December 31, 2014, as summarized below:

Summary of 2014 Q4 and Full Year Results
(In millions, except per share and percentage data)

   
Three Months Ended December 31,
   
Year Ended December 31,
   
2014
   
2013
   
2014
   
2013
Net sales
  $ 12.3     $ 12.5     $ 53.1     $ 60.1
Gross profit
  $ 4.9     $ 5.0     $ 21.7     $ 25.1
Gross margin
    39.9%       39.9%       40.9%       41.7%
Operating (loss) income
  $ (1.2)     $ 1.5     $ (0.1)     $ 6.6
EBITDA(1)
  $ (0.8)     $ 1.8     $ 1.3     $ 8.3
Net (loss) income
  $ (0.7)     $ 1.1     $ (0.1)     $ 4.9
Diluted (loss)earnings per share
  $ (0.08)     $ 0.13     $ (0.01)     $ 0.57
                               
Adjusted operating income(2)
  $ 0.4     $ 0.9     $ 1.9     $ 6.2
Adjusted EBITDA(1)
  $ 0.8     $ 1.3     $ 3.8     $ 8.4
Adjusted net income(2)
  $ 0.4     $ 0.7     $ 1.3     $ 4.7
Adjusted diluted earnings per share(2)
  $ 0.05     $ 0.08     $ 0.15     $ 0.54


(1)  
EBITDA is defined as net income before net interest expense, income taxes, depreciation and amortization.  A reconciliation of EBITDA to net income, the most comparable Generally Accepted Accounting Principles (“GAAP”) financial measure, can be found attached to this release.  Adjusted EBITDA is defined as net income before net interest expense, income taxes, depreciation, amortization and adjusted for share-based compensation and the impact of certain legal fees, employee termination expenses and accrued contingent consideration as described later in this release.  A reconciliation of Adjusted EBITDA to net income, the most comparable GAAP financial measure, can be found attached to this release.
 
(2)  
Reconciliations of GAAP financial measures to corresponding non-GAAP financial measures can be found attached to this release.
 

Bart Shuldman, Chairman and Chief Executive Officer of TransAct, commented, “Fourth quarter results reflect the continued weakness in overall replacement unit sales for the casino and gaming industry on a global basis.  However, TransAct’s business transformation towards new, higher-value products that address large and significantly untapped market opportunities is complete and our focus in fiscal 2015 is on sales execution.  Reflecting this focus, we recently strengthened our sales and marketing efforts with the appointment of Andrew Newmark as EVP of Global Sales & Marketing, with direct oversight of the Company’s sales and marketing efforts across all of our products and services.  Andrew’s appointment adds to our already considerable pool of talent and more favorably positions TransAct in 2015 to leverage our powerful brand and product lineup to accelerate our growth across multiple industries worldwide.

“To address the ongoing challenges of the domestic casino market and the related impact to our operating results, late in fiscal 2014 we effected a significant reduction in our overall cost structure, achieving our goal of removing approximately $1 million of expenses on an annualized basis.  Importantly, we believe this cost reduction action does not impair the Company’s ability to maintain and even grow our strong worldwide market share of printer sales for the casino and gaming industry and we also remain committed to continue investing in the rollout of our newest products which offer high growth opportunities for TransAct.

 
 

The following information was filed by Transact Technologies Inc (TACT) on Thursday, March 5, 2015 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