TRANSACT TECHNOLOGIES REPORTS 2019
FIRST QUARTER RESULTS

2019 First Quarter Net Sales of $11.6 Million and Quarterly
Gross Margin of 52.7% Drives Diluted EPS of $0.10

Company Generating Continued Momentum for BOHA!
Solutions Following March 2019 Launch

Hamden, CT – May 7, 2019 –
TransAct Technologies Incorporated (Nasdaq: TACT) (“TransAct” or the “Company”), a global leader in software-driven technology and printing solutions for high-growth markets, today reported operating results for the quarter ended March 31, 2019.

Summary of 2019 Q1 Results
(In millions, except per share and percentage data)

   
Three Months Ended
March 31,
 
   
2019
   
2018
 
Net sales
 
$
11.6
   
$
12.2
 
Gross profit
 
$
6.1
   
$
5.9
 
Gross margin
   
52.7
%
   
47.9
%
Operating income
 
$
0.8
   
$
0.9
 
Net income
 
$
0.7
   
$
0.7
 
Net income per diluted share
 
$
0.10
   
$
0.09
 
                 
Non-GAAP(1):
               
EBITDA
 
$
1.1
   
$
1.1
 
Adjusted EBITDA
 
$
1.3
   
$
1.2
 

(1)
A reconciliation of each non-GAAP financial measure to the most comparable Generally Accepted Accounting Principles (“GAAP”) financial measure is included in this release. See “Non-GAAP Financial Measures” below for a discussion of these metrics.

Bart Shuldman, Chairman and Chief Executive Officer of TransAct, commented, “Our first quarter results include initial contributions from our BOHA! back-of-house ecosystem following its launch in March.  These contributions include initial BOHA! Terminal and BOHA! Handheld sales, as well as a nearly six-fold year-over-year increase in recurring revenue from software, labels and maintenance and support sales related to our restaurant solutions business. Our casino and gaming business also remains a key driver of TransAct’s overall success, providing the strong financial foundation and cash flow that supports the investments we are making to develop BOHA! and grow sales. During the 2019 first quarter, our growing mix of high-margin products, including recurring label and software sales, drove a 480 basis point improvement in gross margin, leading to a 10% increase in net income even as net sales declined 6% from the prior-year period.


The following information was filed by Transact Technologies Inc (TACT) on Tuesday, May 7, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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