TransAct Technologies Reports Fourth Quarter 2010 Results
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 EPICENTRAL™ Print System for casinos, coupled with the success of 2010, positions us well for 2011 and beyond."
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