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TransAct Technologies Reports Third Quarter 2010 Results

HAMDEN, Conn., Nov. 8, 2010 (GLOBE NEWSWIRE) -- TransAct Technologies Incorporated (Nasdaq:TACT), a global leader in market-specific printers for transaction-based industries, today announced financial results for the three and nine months ended September 30, 2010. Summary results for the periods are as follows:

  Three months ended Sept. 30, Nine months ended Sept. 30,
(in $000s, except EPS) 2010 2009 % change 2010 2009 % change
Net Sales $16,369 $17,982 -9.0% $47,020 $44,420 5.9%
Operating income 1,631 1,794 -9.1% 4,411 3,015 46.3%
Net income 1,052 1,184 -11.1% 2,826 1,954 44.6%
Diluted earnings per share   $0.11 $0.13 -15.4% $0.30 $0.21 42.9%

"Given a weak domestic casino market, we were pleased with our results, including another quarter of strong year-over-year gross margin improvement," said Bart C. Shuldman, Chairman and Chief Executive Officer of TransAct Technologies. "Our international casino and gaming and overall point-of-sale ("POS") markets continue to be bright spots for us. In addition, we continued to realize the benefits of our transition to manufacturing in China as well as a favorable sales mix, as we enjoyed a 320 basis point gross margin increase from the prior-year quarter." 

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