Hamden-based TransAct Technologies has reported net income of $1 million for the third quarter. That’s 10 times better than the previous year.
Net income for the third quarter was $1.6 million, or 13 cents per share, compared to $100,000, or 1 cent per share, a year earlier for the company that develops and manufacturers market-specific solutions, including printers, terminals, software and other products for transaction-based and other industries.
Bart Shuldman, chairman and CEO of TransAct, said in a statement, “TransAct’s strong 2015 third quarter financial results benefited from our focus on sales and the successful expansion of our product portfolio to include more higher-margin products. We again generated strong sales of our food safety terminals and solid results in our domestic casino and gaming business while continuing our efforts to aggressively control costs across the enterprise.”
TransAct generated 2015 third quarter net sales of $14.2 million compared with net sales of $13.4 million in the 2014 third quarter. Casino and gaming revenue decreased 13 percent to $4.4 million compared to $5.1 million in the prior year period, as a 70 percent increase in domestic market casino printer sales was more than offset by a decline in international revenue, the company reported.
