Transact Technologies (TACT) Reports Q4 EPS of $0.11

Transact Technologies (NASDAQ: TACT) reported Q4 EPS of $0.11, versus $0.12 reported last year. Revenue for the quarter came in at $11.2 million, versus $11.8 million reported last year.

Fourth Quarter 2019 Financial Highlights

• Net Sales: Net Sales for the fourth quarter of 2019 was $11.2 million, down 5% compared to $11.8 million for the fourth quarter of 2018.
• Gross Profit: Gross profit for the fourth quarter of 2019 was $4.6 million, resulting in gross margin of 41.2%, compared to gross profit of $5.9 million in the fourth quarter of 2018, which resulted in a 50.1% gross margin.
• Operating income (loss): Operating loss for the fourth quarter of 2019 was $1.1 million, compared to operating income of $1.1 million in the fourth quarter of 2018.
• Net income (loss): Net loss for the fourth quarter of 2019 was $0.8 million, or $0.11 loss per share, based on 7.5 million diluted weighted average shares outstanding. Net income for the comparable 2018 period was $1.0 million, or $0.12 earnings per share, based on 7.7 million diluted weighted average shares outstanding.
• EBITDA: EBITDA loss was $0.3 million for the fourth quarter of 2019, compared to positive EBITDA of $1.2 million in the fourth quarter of 2018.
• Adjusted EBITDA: Adjusted EBITDA loss was $0.1 million for the fourth quarter of 2019, compared to positive adjusted EBITDA of $1.3 million in the fourth quarter of 2018.

“We are pleased with our execution throughout the year as we transition the focus of our business to the very large Food Service Technology market opportunity that is served by our BOHA! ecosystem of recurring software and service subscriptions, consumable label sales and our purpose-built BOHA! hardware. We are excited by the momentum our BOHA! solutions technology have received in the market, evidenced by the 58% year-over-year growth in total food service technology sales in the fourth quarter 2019 that includes an over 200% increase in BOHA! related software, labels and other recurring revenue,” said Bart C. Shuldman, Chairman and CEO of TransAct Technologies. “Looking ahead to 2020, our focus will be on investing to leverage our position in this emerging market to grow our business and create significant long-term value for our shareholders. As awareness grows around BOHA!’s ability to drive measurable improvement across restaurant and foodservice operators’ bottom lines, we believe more customers will deploy our BOHA! Solutions.”

For earnings history and earnings-related data on Transact Technologies (TACT) click here.

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