Transact launches US$7.5 mln share buy-back
U.S.-based Transact Technologies Inc announced on Monday a stock repurchase programme “effective immediately”.
The company’s board authorised a buy-back scheme “of up to US$7.5 million of outstanding shares of common stock from time to time on the open market, depending on market conditions, share price and other factors”.
“The share repurchase authorisation expires on July 31, 2015,” the company said.
The Nasdaq-listed supplier of printers and printing software to the gaming and lotteries industries last week reported a net income of US$0.2 million for the second quarter of 2014, significantly down from US$1.2 million a year earlier.
A “difficult and challenging casino market” contributed to a decline in its second quarter sales and profits, the company said in a statement on August 6.
Transact’s stock began trading with a price of US$8.20 on August 7 and ended the day at US$7.14, down by 20.31 percent. The shares were down by 20.75 percent for the week. On Monday, the stock was trading at US$7.52.
Features
-
E-Sports and potential to bring millennials to casinos Nowadays, millennials, people who were born in the 1980s or... -
Food and drink major non-gaming push: Macau casino ops Food and drink have been heavily marketed as part of Macau... -
Macau law needs revamp to allow more concessions: experts Macau’s gaming law needs to be amended in order to...
Latest News
Sign up to our FREE Newsletter
(Click here for more)
Most Popular
No order needed re Boracay casino ban: Duterte, official November 12, 2018 
Steve Wynn sues Wynn Resorts, Mass. regulator: reports November 12, 2018 
Okada Manila VIP volume down 30pct q-on-q, mass growing November 12, 2018 
Macau GGR steady, November circa US$2.9 bln: analysts November 13, 2018 
Okada Manila books best-yet EBITDA in October November 14, 2018