TransAct Technologies Appoints John Dillon Interim Chief Executive Officer streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
TransAct Technologies Inc, a supplier of slot machine printers, casino-player management software and food-safety management technology, saw its quarterly net loss widen year-on-year in the first three months of 2021, on net sales that fell 19.0 percent.
Such loss was just over US$2.2 million for the three months to March 31, compared to a net loss of US$992,000 in the same period of 2020, the firm reported on Thursday in the United States.
Compared to the previous quarter, the firm’s first quarter loss also widened: TransAct had posted a net loss of US$1.9 million for the three months ended December 31, 2020.
Net sales for the first quarter were just over US$8.3 million, versus just above US$10.2 million in the opening three months of last year, and around US$7.8 million in the fourth quarter of 2020.
Casino-equipment and food-service technology supplier TransAct Technologies Inc announced on Tuesday fourth-quarter sales in the casino and gaming segment rose by 33.3 percent sequentially, to nearly US$2.7 million. The figure represented a decline of 49.8 percent from the US$5.3 million in fourth-quarter sales a year earlier.
“Throughout our most challenging year ever we proved the agility of our business model by posting sequentially stronger sales quarters in the second half of 2020 and we finished the year with momentum as we enter 2021,” said Bart Shuldman, chairman and chief executive of the group, in commentary accompanying the fourth-quarter numbers.
TransAct reported a net loss of US$1.9 million for the three months to December 31, up from a US$867,000 net loss in the previous quarter. The latest result was a nearly 140-percent increase from the US$800,000 loss in the final quarter a year earlier.
TransAct Technologies Reports Preliminary Fourth Quarter and Full Year 2020 Financial Results digitalmedianet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from digitalmedianet.com Daily Mail and Mail on Sunday newspapers.