Release Details
TRANSACT TECHNOLOGIES REITERATES THIRD QUARTER NET INCOME GUIDANCE
TRANSACT TECHNOLOGIES REITERATES THIRD QUARTER NET INCOME GUIDANCE
September 6, 2005
TRANSACT TECHNOLOGIES REITERATES THIRD QUARTER NET INCOME GUIDANCEWallingford, CT, September 6, 2005 TransAct Technologies Incorporated (Nasdaq: TACT), a leading producer of transaction-based printers for customers worldwide, today provided updated guidance for the third quarter 2005. The Company reiterated its third quarter guidance for net income in the range of $0.06 to $0.08 per diluted share on revenue in the $14.0 million range. TransAct provided guidance on August 4, 2005 that it anticipated revenues would be between $14.5 million and $15.5 million, with net income for the third quarter of 2005 will be in the range of $0.06 to $0.08 per diluted share.
Bart C. Shuldman, Chairman, President and Chief Executive Officer of TransAct Technologies, said, "TransAct will be presenting at both the Roth Capital Partners New York Conference and at the Deutsche Bank / Goldman, Sachs & Co. Gaming Investment Forum in Las Vegas later this month. At these conferences we expect to be asked to comment about our expectations about third quarter net income guidance. In order to assure that all of our shareholders have access to this information, we are issuing this press release to affirm that the third quarter is developing essentially in-line with our previous expectations. In addition to the guidance update, we are also updating our shareholders regarding our stock repurchase program authorized by our Board of Directors in March 2005. Since the authorization of this program in March, we have repurchased approximately 409,000 shares of our common stock at an average price per share of $7.67 through September 2, 2005."
About TransAct Technologies Incorporated TransAct (Nasdaq: TACT) designs, develops, manufactures and markets transaction-based printers under the ithaca® name. In addition, the Company markets related consumables, spare parts and service. The Company's printers are used worldwide to provide receipts, tickets, coupons, register journals and other documents. TransAct focuses on two core markets: point-of-sale (POS) and banking, and gaming and lottery. TransAct sells its products to original equipment manufacturers, value-added resellers and selected distributors, as well as directly to end-users. The Company's product distribution spans across the Americas, Europe, the Middle East, Africa, the Caribbean Islands and the South Pacific. For further information, visit TransAct's web site located at www.transact-tech.com. CONTACTS: Steven DeMartino, Chief Financial Officer, 203-269-1198 Ext. 6059 or David Pasquale, 646-536-7006, or Denise Roche, 646-536-7008, both with The Ruth Group
# # # Forward-Looking Statements: Certain statements in this press release include forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "project" or "continue" or the negative thereof or other similar words. All forward-looking statements involve risks and uncertainties, including, but are not limited to, customer acceptance and market share gains, both domestically and internationally, in the face of substantial competition from competitors that have broader lines of products and greater financial resources; introduction of new products into the marketplace by competitors; successful product development; dependence on significant customers; dependence on significant vendors; the ability to recruit and retain quality employees as the Company grows; dependence on third parties for sales outside the United States, including Australia, New Zealand, Europe and Latin America; economic and political conditions in the United States, Australia, New Zealand, Europe and Latin America; marketplace acceptance of new products; risks associated with foreign operations; availability of third-party components at reasonable prices; price wars or other significant pricing pressures affecting the Company's products in the United States or abroad; and the outcome of lawsuits between TransAct and FutureLogic, Inc. Actual results may differ materially from those discussed in, or implied by, the forward-looking statements. The forward-looking statements speak only as of the date of this release and the Company assumes no duty to update them to reflect new, changing or unanticipated events or circumstances.
Bart C. Shuldman, Chairman, President and Chief Executive Officer of TransAct Technologies, said, "TransAct will be presenting at both the Roth Capital Partners New York Conference and at the Deutsche Bank / Goldman, Sachs & Co. Gaming Investment Forum in Las Vegas later this month. At these conferences we expect to be asked to comment about our expectations about third quarter net income guidance. In order to assure that all of our shareholders have access to this information, we are issuing this press release to affirm that the third quarter is developing essentially in-line with our previous expectations. In addition to the guidance update, we are also updating our shareholders regarding our stock repurchase program authorized by our Board of Directors in March 2005. Since the authorization of this program in March, we have repurchased approximately 409,000 shares of our common stock at an average price per share of $7.67 through September 2, 2005."
About TransAct Technologies Incorporated TransAct (Nasdaq: TACT) designs, develops, manufactures and markets transaction-based printers under the ithaca® name. In addition, the Company markets related consumables, spare parts and service. The Company's printers are used worldwide to provide receipts, tickets, coupons, register journals and other documents. TransAct focuses on two core markets: point-of-sale (POS) and banking, and gaming and lottery. TransAct sells its products to original equipment manufacturers, value-added resellers and selected distributors, as well as directly to end-users. The Company's product distribution spans across the Americas, Europe, the Middle East, Africa, the Caribbean Islands and the South Pacific. For further information, visit TransAct's web site located at www.transact-tech.com. CONTACTS: Steven DeMartino, Chief Financial Officer, 203-269-1198 Ext. 6059 or David Pasquale, 646-536-7006, or Denise Roche, 646-536-7008, both with The Ruth Group
# # # Forward-Looking Statements: Certain statements in this press release include forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "project" or "continue" or the negative thereof or other similar words. All forward-looking statements involve risks and uncertainties, including, but are not limited to, customer acceptance and market share gains, both domestically and internationally, in the face of substantial competition from competitors that have broader lines of products and greater financial resources; introduction of new products into the marketplace by competitors; successful product development; dependence on significant customers; dependence on significant vendors; the ability to recruit and retain quality employees as the Company grows; dependence on third parties for sales outside the United States, including Australia, New Zealand, Europe and Latin America; economic and political conditions in the United States, Australia, New Zealand, Europe and Latin America; marketplace acceptance of new products; risks associated with foreign operations; availability of third-party components at reasonable prices; price wars or other significant pricing pressures affecting the Company's products in the United States or abroad; and the outcome of lawsuits between TransAct and FutureLogic, Inc. Actual results may differ materially from those discussed in, or implied by, the forward-looking statements. The forward-looking statements speak only as of the date of this release and the Company assumes no duty to update them to reflect new, changing or unanticipated events or circumstances.