TransAct Q1 revenue up 130% to $22.3M, net income $3.1M; CEO made permanent

TRANSACT TECHNOLOGIES INC

2023-Q1 EPS reported $0.31 revenue$22,270,000

Net sales $22.3M (+130% YoY) driven by casino/gaming $15.8M (+232%) and FST $3.5M (+62%).
Gross margin improved to 55.0% from 26.4%; operating income of $3.8M vs loss of $5.6M.
Net income $3.1M ($0.31 diluted EPS) vs net loss $4.4M ($0.44 loss) in prior year.
FY2023 outlook: net sales $71.5-73.5M, adjusted EBITDA $6.5-7.5M.
John M. Dillon, appointed CEO April 4, now permanent (no longer interim); no change to compensation.

item 2.02 item 5.02 item 9.01

Executive movements

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Role change

John M. Dillon

Chief Executive Officer

TACT · TRANSACT TECHNOLOGIES INC

Effective: 2023-05-08
Filed: May 9, 2023, 7:59 PM ET

On May 8, 2023, the Board of Directors (the “Board”) of the Company unanimously agreed that John M. Dillon, who was appointed Chief Executive Officer (“CEO”) of the Company on April 4, 2023, will continue in the role indefinitely and is no longer serving on an “interim” basis.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TRANSACT TECHNOLOGIES INC reported first quarter ended March 31, 2023 results: revenue $22.3 million, net income $3.1 million, EPS $0.31 net income per diluted share. Guidance initiated.

Period: first quarter ended March 31, 2023
Revenue: $22.3 million
Net income: $3.1 million
EPS: $0.31 net income per diluted share
Guidance: initiated
Result: preliminary results

Exact text from the filing

(EXHIBIT 99.1) --- EX-99.1 2 ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 TransAct Technologies Reports Preliminary First Quarter 2023 Financial Results 2023 First Quarter Net Sales of $22.3 Million, up 130% on a Year-Over-Year Basis Casino and Gaming Sales of $15.8 Million, up 232% on a Year-Over-Year Basis FST Sales of $3.5 Million, up 62% on a Year-Over-Year Basis Hamden,

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Executive change SEC 8-K Item 5.02 confidence 0.95

John M. Dillon was appointed as Chief Executive Officer at TRANSACT TECHNOLOGIES INC.

Action: appointed permanent
Role: Chief Executive Officer

Exact text from the filing

On May 8, 2023, the Board of Directors (the “Board”) of the Company unanimously agreed that John M. Dillon, who was appointed Chief Executive Officer (“CEO”) of the Company on April 4, 2023, will continue in the role indefinitely and is no longer serving on an “interim” basis.

View on SEC.gov

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TRANSACT TECHNOLOGIES INC filing history →

Source: SEC EDGAR

accession 0001214659-23-006701

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