HAMDEN, Conn.–(Company WIRE)–TransAct Systems Included (Nasdaq: TACT) (“TransAct” or the “Company”), a global chief in software program-driven technology and printing remedies for large-development marketplaces, these days announced preliminary economic benefits for the 3rd quarter ended September 30, 2020 that exceeded the higher conclusion of the expected range for net product sales presented on August 5, 2020.
TransAct now expects internet profits for the third quarter of 2020 to be in the array of $7.1 million to $7.3 million, up from our prior expectation of $5.5 million to $6. million. Our updated web gross sales outlook features around $1.4 million to $1.5 million of Meals Support Know-how (“FST”) recurring profits, which was beforehand envisioned to be about $1. million. The Company estimates there were being 3,800 paid out BOHA! terminals in the market as of the finish of the third quarter, with an typical yearly earnings for every terminal of about $1,470, up 88% from $780 in the third quarter of 2019.
These economical benefits for the third quarter of 2020 are preliminary estimates and are subject matter to improve in link with the completion of the Company’s quarter-close closing system and the planning of the unaudited money statements as of and for the period of time finished September 30, 2020.
“These solid figures in the deal with of unprecedented troubles are the final result of the tireless determination and execution of our staff members as perfectly as the basic toughness of our BOHA! option. With an rising variety of our prospects coming back on-line, we anticipate need to carry on to increase for both equally our FST merchandise and our casino know-how,” explained Bart Shuldman, Chairman and CEO of TransAct Systems. “We are delighted to have not too long ago declared our new BOHA! Cafe Operations System on Apple’s indigenous iOS system which will further more boost our industry-top option and feel that we are well positioned to meet the shifting calls for of foods service operators of each and every sizing.”
TransAct Systems will release its third quarter 2020 final results after the marketplace closes on Thursday, November 5, 2020, and will hold a conference connect with and simultaneous webcast at 4:30 PM ET that day to go over outcomes for the three and nine months finished September 30, 2020 and other issues.
The meeting contact amount is 800-458-4121 and the meeting ID number is 2095010. You should contact 10 minutes in advance to make certain that you are connected prior to the presentation. Intrigued parties could also accessibility the live call on the World wide web at www.transact-tech.com (select “Investor Relations” followed by “Events & Presentations”) let fifteen minutes to register and obtain and install any important software program. Thoughts and solutions on the connect with will be reserved for analysts and investors. Adhering to its completion, an archived variation of the webcast will be obtainable for replay at the same place.
About TransAct Technologies Integrated
TransAct Technologies Incorporated is a global chief in building computer software-pushed technological innovation and printing options for significant-expansion marketplaces which include foods company, casino and gaming, POS automation, and oil and gas. The Company’s methods are made from the ground up primarily based on client demands and are marketed under the BOHA!™, AccuDate™, EPICENTRAL®, Epic®, Ithaca® and Printrex® brands. TransAct has sold around 3.4 million printers and terminals all around the planet and is committed to offering globe-class assistance, spare pieces and equipment to support its set up product foundation. As a result of the TransAct Services Team, the Organization also provides clients with a comprehensive range of provides and consumable goods both equally online at https://www.transactsupplies.com and by way of its direct revenue staff. TransAct is headquartered in Hamden, CT. For far more information, remember to go to https://www.transact-tech.com or connect with (203) 859-6800.
TransAct®, BOHA!™, AccuDate™, EPICENTRAL®, Epic®, Ithaca® and Printrex® are trademarks of TRANSACT Technologies Incorporated. ©2020 TRANSACT Technologies Integrated. All legal rights reserved.
Cautionary Assertion With regards to Preliminary Approximated Economic Information and facts
The Business has prepared the preliminary estimated financial info established forth earlier mentioned on a materially constant foundation with its historical money info and in very good religion primarily based on its inside reporting as of and for the three and nine months finished September 30, 2020. This economical information and facts is preliminary and is hence inherently unsure and issue to adjust as the Enterprise finalizes its money outcomes and related critiques as of and for the a few and nine months finished September 30, 2020. Through the class of the planning of the Company’s condensed consolidated economic statements and linked notes as of and for the a few and 9 months finished September 30, 2020, the Company may possibly identify merchandise that could trigger its final claimed results to be materially distinct from the preliminary approximated financial details set forth previously mentioned. As a result, there can be no assurance that the Company’s last effects for this period of time will not differ from this kind of preliminary believed monetary information.
This preliminary believed financial information and facts need to not be considered as a substitute for entire interim fiscal statements geared up in accordance with GAAP. In addition, this preliminary estimated economic information and facts is not automatically indicative of the final results to be realized for any foreseeable future time period.
Particular statements in this push release incorporate ahead-hunting statements. Forward-on the lookout statements generally can be discovered by the use of ahead-on the lookout terminology, such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “project,” “plan” or “continue” or the detrimental thereof or other equivalent text. All forward-searching statements involve challenges and uncertainties, which includes, but not minimal to, challenges, uncertainties and other elements associated to the adverse impact of the COVID-19 pandemic on the Company’s company, functions, economical condition, effects of functions and cash methods, such as as a outcome of supply chain disruptions, shutdowns and/or operational limitations imposed on our clients, incapacity of prospects to make payments on time or at all, diversion of administration attention, needed modifications to enterprise tactics and operations, cost slicing steps that the Business has produced and may possibly carry on to make, a probable foreseeable future reduction in the value of goodwill or other intangible belongings, inadequate producing capability or a shortfall or excessive of stock as a final result of difficulty in predicting manufacturing needs because of to risky financial circumstances, price improves or lessened availability of part components or uncooked materials, trade price fluctuations, volatility of and decreases in buying and selling charges of the Corporation common inventory and the availability of necessary funding on suitable terms or at all the Company’s means to correctly produce new goods that garner consumer acceptance and generate gross sales, the two domestically and internationally, in the deal with of substantial competitors the potential to successfully changeover the Company’s business enterprise into the foods provider engineering marketplace the means to remediate the materials weaknesses above inside command more than economical reporting threats affiliated with likely long term acquisitions typical economic problems dependence on contract brands for the assembly of a big part of the Company’s solutions in Asia dependence on important suppliers the capacity to recruit and retain quality employees as the Firm grows dependence on third events for income outside the house the United States marketplace acceptance of new solutions threats affiliated with foreign functions the availability of third-occasion factors at realistic rates price tag wars or other important pricing pressures affecting the Firm’s goods in the United States or abroad elevated solution costs or diminished buyer demand from customers for the Company’s products and solutions due to changes in U.S. policy that may outcome in trade wars or tariffs the means to protect mental assets the effect of the United Kingdom’s withdrawal from the European Union and other risk components specific in the Company’s once-a-year report on Sort 10-K for the year ended December 31, 2019, quarterly studies for the quarters ended March 31, 2020 and June 30, 2020 and other reports submitted with the Securities and Exchange Commission. Actual benefits may possibly vary materially from those people discussed in, or implied by, the ahead-looking statements. The forward-looking statements speak only as of the day of this release, and the Corporation assumes no responsibility to update them to replicate new, modifying or unanticipated situations or conditions, besides as needed by applicable legislation.