TransAct Technologies reports net sales of $17.9m in Q3 2022
The company posted a gross profit margin of 45.9%, earning $8.2m in the third quarter.
The Q3 2022 results for TransAct Technologies have been announced, revealing net sales of $17.9m, compared to $10.6m for the same time last year.
This number is up 68% on a year-over-year basis, the company went on to report positive net income for the quarter. Gross profit for the third quarter was $8.2m, with a gross margin of 45.9%.
Net income for Q3 2022 was $0.5m, or $0.05 net income per diluted share, based on 9.9m weighted average common shares outstanding.
TransAct CEO Bart C. Shuldman said: “Our quarterly results broke not only a number of Company sales records, but also mark the end of our best nine months in sales since 2018.
“This would not be possible without the incredible work of our engineering, operations and sales teams who have worked tirelessly to get a near record number of casino and POS printers manufactured, sold and delivered in the face of supply shortages; and I cannot thank the TransAct team enough for their efforts.”
The company also posted adjusted EBITDA of $1.2m for the third quarter of 2022, this is in contrast to negative adjusted EBITDA of $1.2m for the third quarter of 2021.
Shuldman continued: “In addition, I am thrilled with the casino and gaming market where historic demand continues to outstrip our supply.
“Every printer we can make is being shipped out which helped us see a double-digit gain in our domestic sales and yet another triple-digit gain in our international markets in the third quarter of 2022 compared to the third quarter of 2021.”
The company hosted a conference call to discuss the preliminary third-quarter results and other matters which was open to the public.
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