Hamden-based TransAct Technologies said its profits declined 14 percent in the third quarter.
Net income was $883,000, or 12 cents a diluted share, down from nearly $1.03 million, or 13 cents a diluted share for the third quarter a year ago.
Revenue declined slightly, from $14.5 million to $14.2 million, but cost of sales increased.
TransAct CEO Bart Shuldman said, “Third quarter sales in our [point of sale] automation business were strong and interest in our AccuDate line of food safety terminals continued to accelerate as we made notable progress in securing new approvals with restaurant and food service operators that we believe will support future sales momentum.”
Completion of a new international installation of Epicentral software-based promotions and bonusing print system and the debut of new innovations for the Epicentral product line also occurred in the third quarter, he said.
The company also introduced a new Epic Edge casino ticket printer which was met with an enthusiastic response from casino operators, he said.
Steve DeMartino, president and chief financial officer, added, “We continue to operate the business with an eye towards growing sales of our software and food safety products. We are generating strong operating cash flow which is deployed in support of ongoing product innovation and to return capital to shareholders through our regular quarterly cash dividend and ongoing share repurchases.”
