Transact Technologies (TACT) Misses Q1 EPS by 5c, Revenues Miss
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Transact Technologies (NASDAQ: TACT) reported Q1 EPS of ($0.13), $0.05 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $10.2 million versus the consensus estimate of $11.18 million.
First Quarter 2020 Financial Highlights
“While the economic headwinds and disruptions in the quarter had an undeniable effect on our results, we are pleased with the upward trajectory of our Food Service Technology revenues prior to the industry disruptions that have occurred as a result of the COVID-19 crisis. We continue to be excited by the momentum of our BOHA! solution and the long-term opportunities it provides us,” said Bart C. Shuldman, Chairman and CEO of TransAct. “Unfortunately, COVID-19 is still causing massive disruptions across the world with widespread closures, and we expect this to continue to negatively impact our casino and gaming business as well as most restaurant and food service locations for the foreseeable future. While it is difficult to predict the magnitude of the impact that the spread of the virus and the associated stay at home orders will have on our customers and our business, we are confident in the steps we have taken to help us manage through these turbulent times.”
For earnings history and earnings-related data on Transact Technologies (TACT) click here.
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