GGRAsia – TransAct’s casino sales rise 18.5 pct in 2Q

TransAct’s casino sales rise 18.5 pct in 2Q

Aug 05, 2015 Newsdesk Industry Talk, Latest News

TransAct Technologies Inc, a specialist in slot machine printers, reported an 18.5 percent year-on-year rise in sales revenue from its casino and gaming business in the second quarter of 2015 to US$7.3 million.

The Nasdaq-listed firm said on Tuesday that the increase reflected “the benefit of the installation of Epicentral at Resorts World Casino in New York and a year-over-year increase in revenue from international markets.” Epicentral is a print-based system enabling casinos to offer promotions and bonuses to players.

TransAct, a U.S.-based specialist in printers, terminals, software and other products for transaction-based industries – including non-gaming sectors – generated overall second quarter net sales of US$17.2 million compared with US$13.8 million in the year-earlier period. The firm reported net income of US$1.4 million, or US$0.18 per diluted share for the three months ended June 30, compared to net income of US$0.2 million, or US$0.02 per diluted share, in the prior-year period.

“Reflecting the continued success of our Epic line of ticket-in, ticket-out printers, we believe TransAct is garnering its highest ever ship share in [the casino and gaming] sector,” TransAct chairman and chief executive Bart Shuldman said in a statement.

“We also expect to benefit in the second half of the year and into 2016 from additional installations of our Epicentral promotion and bonusing print system,” he added.

TransAct had on Monday already declared a quarterly cash dividend of US$0.08 per share. The dividend will be payable on September 15, to shareholders of record at the close of business on August 20.

On an annualised basis, the quarterly dividend represented an annual yield of 4.3 percent based on the US$7.41-per-share closing price of the company’s stock on July 31.