• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

TransAct reports fourth quarter, full year loss

Mar 06, 2015 Newsdesk Industry Talk, Latest News  


TransAct reports fourth quarter, full year loss

Slot machine printer specialist TransAct Technologies Inc reported a net loss of US$0.7 million, or US$0.08 per diluted share, in the fourth quarter of 2014, compared to net income of US$1.1 million, or US$0.13 per diluted share, in the prior-year period. The quarterly loss reflects lower sales of casino equipment and a jump in operating expenses, the company said on Thursday.

TransAct generated 2014 fourth quarter net sales of US$12.3 million compared with net sales of US$12.5 million a year earlier.

The firm said casino and gaming revenue was US$5.0 million for the period, down from US$5.7 million from a year ago, “reflecting lower sales of casino printers to original equipment manufacturers and lower domestic Epicentral revenue”.

“The 2013 fourth quarter also benefited from a large slot machine replacement undertaken by a multinational casino operator,” it added.

TransAct also supplies products to the food safety, banking, point-of-sale, hospitality, oil and gas, medical and mobile communications industries.

The quarterly results show that operating expenses for the final three months of 2014 were US$6.1 million compared to US$3.5 million in the year-ago quarter. The company recorded an operating loss of US$1.2 million for the final quarter of 2014, dipping from an operating income of US$1.5 million a year ago.

Excluding the impact from the employee termination expenses, lawsuit legal fees and an adjustment to accrued contingent consideration, TransAct said it generated adjusted operating income of US$0.4 million.

For full-year 2014, the company recorded a net loss of US$0.1 million, down from a US$4.9-million profit in the previous year. Net sales dropped by 11.6 percent year-on-year to US$53.1 million in 2014.

Bart Shuldman, chairman and chief executive of TransAct, said: “Fourth quarter results reflect the continued weakness in overall replacement unit sales for the casino and gaming industry on a global basis.

“However, TransAct’s business transformation towards new, higher-value products that address large and significantly untapped market opportunities is complete and our focus in fiscal 2015 is on sales execution,” Mr Shuldman added in a statement accompanying Thursday’s filing.

Transact’s CEO said the company “effected a significant reduction” in its overall cost structure in late 2014, cutting approximately US$1 million of expenses on an annualised basis.

“We believe this cost reduction action does not impair the company’s ability to maintain and even grow our strong worldwide market share of printer sales for the casino and gaming industry and we also remain committed to continue investing in the rollout of our newest products which offer high growth opportunities for TransAct,” he added.

In February, TransAct declared a quarterly cash dividend of US$0.08 per share. The dividend will be payable on March 13 to shareholders of record on February 20.


  • tweet
Related articles
  • TransAct quarterly loss widens despite revenue increase
    TransAct quarterly loss widens...

    May 11, 2022  

  • TransAct narrows 4Q loss, revenue up 43pct y-o-y
    TransAct narrows 4Q loss, revenue up...

    Mar 10, 2022  

More news
  • Resorts World Manila op 1Q GGR up 43pct y-o-y
    Resorts World Manila op 1Q GGR up 43pct...

    May 25, 2022  

  • Singapore visitor tally in year to April beats full-2021
    Singapore visitor tally in year to...

    May 25, 2022  


Latest News

Resorts World Manila op 1Q GGR up 43pct y-o-y

Resorts World Manila op 1Q GGR up 43pct y-o-y

May 25, 2022  

Travellers International Hotel Group Inc, the owner and operator of the Resorts World Manila casino resort (pictured), reported first-quarter gross gaming revenue (GGR) of PHP6.5 billion (US$124.4...
Read More
Singapore visitor tally in year to April beats full-2021

Singapore visitor tally in year to April beats full-2021

May 25, 2022  

Leisure and Resorts 1Q loss widens as costs rise

Leisure and Resorts 1Q loss widens as costs rise

May 25, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”If China’s travel easing gets delayed to the second half of 2023 [Macau operator’s aggregate net debt] could rise another US$2 billion, to US$27 billion by end-2023"

Praveen Choudhary, Gareth Leung and Thomas Allen

Analysts at Morgan Stanley banking group



Most Popular

  • Wynn Macau Ltd asks managers to take 10pct wage in stockWynn Macau Ltd asks managers to take 10pct wage in stock May 24, 2022
  • Macau op debt to hit US$25bln unless travel eased 2H: MSMacau op debt to hit US$25bln unless travel eased 2H: MS May 24, 2022
  • Outbound group tours still paused: China immigrationOutbound group tours still paused: China immigration May 24, 2022
  • Macau GGR tax cut idea tied to China outlook: brokerageMacau GGR tax cut idea tied to China outlook: brokerage May 23, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us