TransAct Technologies Inc has appointed restaurant industry executive Haydee Olinger as its fifth director. The United States-based supplier of gaming industry equipment issued a written announcement on Tuesday saying Ms Olinger joined the board on Friday.
Nasdaq-listed TransAct says Ms Olinger served in senior management roles at McDonald’s Corp for more than 20 years, and has most recently served as the fast food company’s global chief compliance and privacy officer. The company says Ms Olinger has a broad experience of international business, having been responsible for teams consisting of finance, franchise, tax and operations personnel working in Europe, Asia and Latin America. She also serves on the boards of DePaul University Institute of Business and Professional Ethics and the Illinois Lottery Control Board.
TransAct chairman and chief executive Bart Shuldman said Ms Olinger has a track record of success. “Her direct knowledge and understanding of the global restaurant industry with deep operations and legal expertise will prove valuable to TransAct as we continue to look to further develop and exploit the large restaurant solutions market opportunity for our company,” says Mr Shuldman.
TransAct reported a net profit of US$700,000 for the first quarter of this year, 22.2 percent less than a year earlier. While the May announcement says aggregate net sales fell by 12.9 percent to US$12.2 million, the company’s sales to the gaming sector rose by 16.1 percent to US$5.9 million.
On Monday, TransAct announced a quarterly cash dividend of US$0.09 per share, payable on September 14 to shareholders of record at the close of business on August 20. The company is scheduled to announce its second quarter results on Thursday.
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