TransAct Technologies Inc. in Hamden said weak demand for its specialty printers in the U.S. gaming industry caused third-quarter sales and profits to slump.
Net income dropped 11 percent to $1.05 million, or 11 cents a share, in the three months ended Sept. 30 from $1.2 million, or 13 cents a share, the same period last year.
Three-month sales were down 9 percent to $16.4 million from $18 million a year ago.
“Given a weak domestic casino market, we were pleased with our results, including another quarter of strong year-over-year gross margin improvement,” said TransAct Chairman and CEO Bart C. Shuldman.
Sales to lotteries also were down nearly a third from a year earlier, Shuldman said.
Not even strong sales, he said, to banks and McDonald’s of TransAct’s point-of-sale printers that spit out discount coupons and other promotional receipts were enough to overcome the gaming market’s overall weakness.
