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TransAct Technologies Reports Fourth Quarter 2010 Results

Stocks in this article: TACT

HAMDEN, Conn., March 8, 2011 (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 months and full year ended December 31, 2010. Summary results for the periods are as follows:

  Three months ended Dec. 31, Full year ended Dec. 31,
(in $000s, except EPS) 2010 2009 % change 2010 2009  % change
Net Sales $16,174 $13,926 16.1% $63,194 $58,346 8.3%
             
Operating income 1,450 281 416.0% 5,861 3,296 77.8%
Net income 1,078 186 479.6% 3,904 2,140 82.4%
Diluted earnings per share $0.11 $0.02 450.0% $0.41 $0.23 78.3%

"We are very pleased with our fourth quarter results, which saw double-digit revenue growth, triple-digit net income growth and another quarter of strong year-over-year gross margin improvement," said Bart C. Shuldman, Chairman and Chief Executive Officer of TransAct Technologies. "2010 was a year of significant recovery for TransAct, recording our second-best annual sales figures for the company driven by the strength in our casino and gaming and point-of-sale ("POS") markets.  We believe the introduction of our game-changing EPICENTRALâ„¢ Print System for casinos, coupled with the success of 2010, positions us well for 2011 and beyond."

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