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Hamden's TransAct Technologies posts 4Q loss on tax hit

BY John Stearns

3/7/2018
Hamden software technology firm TransAct Technologies Inc. on Wednesday reported a $412,000 fourth quarter net loss, after taking a $1.3 million income tax charge related to the federal tax overhaul passed in December.

A year earlier, TransAct reported a fourth quarter profit of $1.4 million, or 18 cents per share.

Excluding the tax charge, diluted earnings per share were about 12 cents, the company said.

Full-year earnings were $3.2 million, or 42 cents per share, vs. $3.6 million, or 47 cents per share, in 2016.

The company -- which provides technology and printing services and point-of-sale automation for various industries, including restaurants, casinos, and and oil and gas -- reported its highest quarterly gross profit margin, 50.2 percent, last quarter and announced a new $5 million share repurchase program to replace the one that expired Dec. 31. The new program runs through 2019.

Bart Shuldman, chairman and CEO of TransAct, said the company is working alongside its main software partners on addressing several opportunities with large national restaurant and foodservice brands that would significantly expand the market penetration of its AccuDate terminals and proprietary labels.

The company's casino and gaming business is similarly positioned to grow, as demonstrated by the 34 percent year-over year-increase in domestic casino and gaming printer sales in the fourth quarter of 2017, he said.