News

TransAct expects third-quarter gain

February 27, 2002

WALLINGFORD, Conn. - TransAct Technologies Inc. (NASDAQ:TACT), which produces printers for point-of-sale, gaming and lottery, and kiosk applications, expects to report earnings of one to three cents per share in the third quarter of 2001 before restructuring charges.

The company, in announcing its preliminary third-quarter results on Oct. 11, reported sales of about $13 million for the third quarter, ending Sept. 30. TransAct expects to announce its third quarter earnings of Nov. 1.

In the second quarter, ending June 30, the company reported a net loss of $1.2 million on sales of $10.8 million, a loss of 24 cents per share.

TransAct announced in February that its manufacturing and engineering services would be consolidated at its facility in Ithaca, N.Y., and its Wallingford, Conn., facility would close at the end of the year. The restructuring is expected to cost $3 million to $3.5 million.