Welcome to our dedicated page for Transact Tech news (Ticker: TACT), a resource for investors and traders seeking the latest updates and insights on Transact Tech stock.
Company Overview
Transact Technologies Inc (TACT) is a global provider renowned for its innovative, software-driven technology and printing solutions. With a broad portfolio tailored for high-growth markets, the company has positioned itself as a pivotal player within industries that demand precision, reliability, and advanced technological integration. Incorporating keywords such as POS automation, casino and gaming, and restaurant technology, Transact Technologies is committed to addressing complex market needs with comprehensive, customizable solutions.
Products and Services
Transact Technologies develops and markets an extensive range of products that include software solutions, hardware installations, and consumable supplies required for seamless printing and scanning operations. The company’s products are marketed under reputable brand names including AccuDate, EPIC, Epicentral, Ithaca, Printrex, and others. This diversified brand strategy allows the company to serve a wide array of sectors from retail to healthcare with offerings that encompass:
- Software-driven printing solutions
- POS automation and restaurant technology products
- Integrated hardware and supply solutions for casino, gaming, lottery, and mobile applications
- Specialized consumables and spare parts designed to maintain the high performance of its installed base
Market Applications and Operational Excellence
Serving a diverse market spectrum, Transact Technologies is instrumental in industries such as foodservice, casino gaming, retail banking, lottery systems, and oil and gas. The company’s products are engineered from the ground up, aligning closely with customer requirements and industry standards. Its operational excellence is underscored by a significant global installed base, with millions of terminals and printers supporting business operations worldwide. This robust infrastructure is further enhanced by dedicated service groups that ensure efficient distribution of spare parts, consumables, and technical support.
Global Presence and Customer-Centric Focus
Headquartered in Hamden, CT, Transact Technologies operates with a dual focus on the United States and key international markets. The company’s commitment to meeting customer demands is evident in its comprehensive support network and tailored service solutions. By focusing on long-term reliability and quality, Transact ensures that its offerings remain relevant and robust, thereby reinforcing its market position through continuous service excellence and constant innovation.
Competitive Edge and Industry Positioning
The competitive landscape for technology and printing solutions is rigorous, yet Transact Technologies has consistently demonstrated differentiated value through its deep customization capabilities and integrated service offerings. Rather than relying solely on hardware sales, the company's revenue model is bolstered by a mixture of software licensing, maintenance contracts, and a diverse portfolio of consumable products. This multipronged approach not only underpins its sustained market relevance but also offers a clear representation of its expertise and commitment to operational excellence.
Commitment to Expertise and Quality
Transact Technologies’ long-standing reputation is built upon its rigorous approach to product development and customer service. The company’s solutions are a result of meticulous engineering and ongoing enhancements that are executed in collaboration with industry professionals. Every product and service line is developed with extensive customer feedback and market insights, ensuring that each solution meets high standards of quality and performance. This strategic focus on technical excellence, combined with strong customer support, has reinforced the company’s role as a trusted solution provider in the industry.
TransAct Technologies (NASDAQ: TACT), a leader in software-driven technology solutions, announces that Chairman & CEO Bart Shuldman will attend the ICR 25th Annual Conference in Orlando, FL, on January 9-10. Shuldman will hold one-on-one meetings with attendees to discuss the company's innovative solutions in markets such as food service and gaming. TransAct has sold over 3.6 million devices globally, featuring brands like BOHA!™ and Ithaca®. More information can be found on their website.
TransAct Technologies reported a strong performance for Q3 2022, achieving net sales of $17.9 million, a 68% increase year-over-year. The Food Service Technology (FST) segment saw a 27% rise in recurring revenue, totaling $2.6 million. Notably, the company reported a net income of $0.5 million, or $0.05 per diluted share, though down from $0.9 million year-over-year. Gross profit increased to $8.2 million, yielding a gross margin of 45.9%. The company also expanded its paid terminals by 36% year-over-year, reflecting growing market demand.
TransAct Technologies (NASDAQ: TACT) announced that CEO Bart Shuldman will attend two investor conferences in New York City. The Roth 11th Annual Technology Event will feature one-on-one meetings on
TransAct is a leader in software-driven technology solutions in markets such as food service and gaming, having sold over 3.3 million printers globally.
TransAct Technologies Incorporated (Nasdaq: TACT) will announce its third quarter 2022 financial results on November 10, 2022, after market close. A conference call and webcast will be held at 4:30 p.m. ET that day, open to the public. Interested individuals can join the call by dialing 888-394-8218 using conference ID 6552635. The call will also be accessible online at www.transact-tech.com. A replay of the call will be available until November 24, 2022.
TransAct Technologies (Nasdaq: TACT) has been chosen by Sky River Casino in Elk Grove, California, to supply its Epic Edge TITO printers for all slot machines on the casino's gaming floor. The casino aims to enhance the guest experience and selected the Epic Edge for its superior performance. This state-of-the-art printer features high-resolution output and supports new and legacy games, minimizing the need for multiple printer types. Sky River Casino, operated by Boyd Gaming, opened on August 16, 2022, and boasts a vast array of gaming options and dining establishments.
TransAct Technologies (Nasdaq: TACT) announced the launch of two new products at the Global Gaming Expo (G2E) 2022, taking place from October 11-13 in Las Vegas, Nevada. The company will unveil the Epicentral Mobile Host, an iOS solution allowing real-time player rewards, and the Epic 888, a versatile thermal roll printer. Additionally, TransAct will showcase its BOHA! foodservice technology suite. These innovations aim to enhance customer experience and operational efficiency in the gaming and food service industries.
TransAct Technologies (Nasdaq: TACT) will showcase its BOHA! suite at NACS 2022 in Las Vegas from October 2-4, targeting convenience store operators. BOHA! offers FDA-compliant solutions for labeling, food safety, and temperature monitoring, aiding stores in enhancing their fresh food programs. CEO Bart C. Shuldman noted that c-stores are increasingly competing with fast food brands, which can lead to significant profit margins. The exhibition will include demonstrations of on-demand printing and custom labeling capabilities.
TransAct Technologies reported a 35% increase in net sales for Q2 2022, reaching $12.6 million compared to $9.3 million in Q2 2021. FST recurring revenue also rose by 5% to $2.2 million. Despite these gains, the company's operating loss widened to $(3.0) million, up from $(2.7) million last year. Gross profit improved to $5.4 million with a gross margin of 43% compared to 36.8% previously. Paid terminals increased by 38% year-over-year, with projections for strong production and sales in the latter half of 2022.
TransAct Technologies (NASDAQ: TACT) will release its Q2 2022 results on August 17, 2022, after market close. A conference call will follow at 4:30 PM ET, open to the public. Participants can call 201-389-0920, using conference ID 13732413, and are advised to connect ten minutes prior. The live webcast will be accessible at www.transact-tech.com. Archived versions will be available post-call until August 31. TransAct is a leader in software-driven technology for high-growth markets.
TransAct Technologies (NASDAQ: TACT) has announced the rescheduling of its second quarter 2022 financial results and conference call to no later than August 22, 2022. This change is due to a delay caused by the implementation of a new ERP system and a transition in its accounting method for inventory valuation. CEO Bart Shuldman stated that they are working diligently to resolve the issue in compliance with U.S. GAAP.
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