TransAct Technologies Inc reported a 9.7 percent year-on-year decline in casino and gaming sales in the fourth quarter of 2015 to US$4.5 million.
Casino and gaming sales for full year 2015 declined by 4.3 percent to US$21.8 million, the Nasdaq-listed gaming industry supplier said in a Thursday filing.
Revenue from the segment – which excludes lottery sales – “was flat on a quarterly sequential basis, as a 40 percent year-over-year increase in domestic sales of casino printers was more than offset by a decline in international revenue,” the firm said.
TransAct’s casino and gaming product segment includes ticket printers for gaming machines.
“In our casino and gaming business, we remain focused on the growing number of opportunities for our Epicentral promotion and bonusing system while further expanding our domestic casino printer market share,” Bart Shuldman, chairman and chief executive of TransAct, said in a statement.
He added that earlier this week Epicentral went live on approximately 1,900 electronic gaming devices at Foxwoods Resort Casino, in Connecticut, in the United States. The property – a tribal casino – is owned and operated by the Mashantucket Pequot Tribal Nation.
In September, TransAct announced an agreement to integrate Epicentral with Aristocrat Technologies Inc’s Oasis 360 casino management system. TransAct said at the time the goal was to provide casino operators with a comprehensive player reward system.
TransAct’s total net sales revenue for the fourth quarter of 2015 – including non-gaming related segments – was US$12.1 million, down by 1.5 percent in year-on-year terms. Casino and gaming sales were the main contributor, accounting for 37.3 percent of the total.
Net income in the three months ended December 31, 2015 was US$0.5 million compared to a net loss of US$3.0 million in the prior-year period.
TransAct on Monday announced its board of directors had approved a US$5.0 million stock repurchase programme. The share repurchase authorisation expires at the end of 2017.
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Analyst at Roth Capital Partners