TransAct Technologies Inc, a supplier of slot machine printers, casino-player management software and food-safety management technology, reported third-quarter net sales of nearly US$13.2 million, a 21.3-percent increase from a year earlier.
The company posted net income of US$15 million for the July to September period, compared with a loss of US$551,000 in the prior-year period, according to a Monday press release.
The increase in sales was “largely as a result of stronger sales in both our casino and gaming, and food service technology markets,” stated the firm.
Third-quarter sales in the casino and gaming segment rose 57.6 percent year-on-year, to just above US$7.1 million.
Sales in the group’s food service technology (FST) segment stood at US$4.8 million, up 12.0 percent from a year ago.
TransAct reported adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) of US$669,000 in the three months to September 30, compared with a negative figure of US$204,000 in the prior-year period.
John Dillon, TransAct’s chief executive, was quoted as saying in Monday’s announcement that the company was “pleased” with the results and that the overall trend in the FST segment was “encouraging”.
“We strengthened our balance sheet during the quarter, which will support our growing focus on FST software,” stated Mr Dillon.
He added: “Combined with improving FST sales results, we believe our enhanced cash balance will allow us to tackle new market opportunities, increase flexibility in our offerings, and deliver greater value to both customers and shareholders over time.”
In Monday’s filing, TransAct said it expects to record in 2025 total net sales of between US$50 million and US$53 million, “an increase from the previously forecasted low end of US$49 million”.
The firm forecast total adjusted EBITDA to be between “break even and US$1.5 million”.
