Nasdaq-listed gaming industry supplier TransAct Technologies Inc generated third quarter net sales of US$14.2 million, up by 6 percent from US$13.4 million in the third quarter of 2014.
But revenue from the casino and gaming product segment – which includes ticket printers for gaming machines – decreased 13 percent year-on-year to US$4.4 million, with the firm noting in a Thursday filing that “a 70 percent year-over-year increase in sales of casino printers in the domestic market was more than offset by a decline in international revenue”.
TransAct’s gross profit rose 19 percent year-on-year to US$6.3 million “primarily reflecting the higher revenue and the continued shift in mix towards higher-margin products,” the firm said. Total operating expenses for the third quarter were US$4.7 million, down from US$5.2 million in the year-ago quarter.
The U.S.-based company reported net income of US$1.0 million for the three months to September 30, compared to US$100,000 a year earlier.
“We again generated strong sales of our food safety terminals and solid results in our domestic casino and gaming business while continuing our efforts to aggressively control costs across the enterprise,” Bart Shuldman, TransAct’s chairman and chief executive, said in a statement.
“In our casino and gaming business, we continue to deliver notable results in the domestic market … Going forward, we see additional opportunities to drive further market share growth and benefit from an acceleration of Epicentral installations,” said Mr Shuldman.
He added: “We have a growing backlog of Epicentral installations that are expected to come online over the next few quarters and we continue to see interest from operators around the world for this innovative print and bonusing solution.”
TransAct said in September it had an agreement to integrate its Epicentral voucher promotion software with Aristocrat Technologies Inc’s Oasis 360 casino management system. The deal covers North America.
TransAct’s board of directors declared a quarterly cash dividend of US$0.08 per share. The quarterly dividend will be payable on December 15 to shareholders of record on November 20.
The firm said it has returned US$2.9 million to shareholders in the first nine months of 2015 via its regular quarterly dividend and the repurchase of common stock earlier in the year.
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”We do not believe that reopening the advance notice nomination deadline [for board directors] is appropriate or justified”
Daniel Boone Wayson
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