GGRAsia – TransAct casino sales down 15 pct in 1Q

TransAct casino sales down 15 pct in 1Q

May 07, 2015 Newsdesk Industry Talk, Latest News, Top of the deck

Slot machine printer specialist TransAct Technologies Inc reported a year-on-year drop of 14.7 percent in revenue from sales to the casino and gaming sector to US$5.6 million in the first quarter of 2015.

The U.S.-based company on Wednesday said the decrease primarily reflected “lower domestic sales of casino printers to original equipment manufacturers which was partially offset by a US$0.5 million increase in international casino and gaming revenue.”

Casino and gaming sales revenue increased 12 percent on a quarterly sequential basis, the Nasdaq-listed company added.

TransAct, a specialist in printers, terminals, software and other products for transaction-based industries – including other sectors beyond gaming – recorded overall net sales of US$16.2 million compared to US$13.6 million in the year-ago period.

Net income in the first quarter of 2015 was US$0.1 million, or US$0.02 per diluted share, compared to net income of US$0.4 million, or US$0.05 per diluted share, in the prior-year period.

“[We] achieved quarterly sequential revenue growth in our casino and gaming business as the domestic market exhibited signs of improvement, particularly in comparison to the last nine months of fiscal 2014,” Bart Shuldman, chairman and chief executive of TransAct, said in a statement.

He added: “Our Epic line of ticket-in, ticket-out printers continue to be favourably received by casino and gaming operators for their reliability and ease of use, which we believe contributes to the growing worldwide installed base of these products. We also continue to expect increased sales of our Epicentral promotion and bonusing print system in 2015.”