Transact’s third-quarter net-sales fell 26 percent to $11.7 million, due to a fall in casino and gaming sales both domestically and internationally.
Casino and gaming net sales in the 2019 third quarter were $5.1 million, down from $8.3 million in the prior-year period. Transact said that this was due to a large replacement printer order from a large corporate customer, along with higher-order levels from a single OEM in 18Q3 which did not repeat in 2019.
International casino and gaming sales declined 12 percent in the 2019 third quarter, due to significantly lower order levels from a single OEM in Europe compared to the prior year. This was however slightly offset by higher sales to the company’s Australian and Asian distributors
Outside of gaming, Transact provides products to the restaurant sector, as well as the POS automation and banking sector, and lottery sector.
Restaurant solutions posted a slight increase in net sales in 19Q3, but net sales fell in all its other segments.
Bart Shuldman, Chairman and Chief Executive Officer of TransAct, commented, “Our market-leading casino and gaming printer business remains a foundation for our long-term success and at the Global Gaming Expo in Las Vegas we announced an exciting new partnership with Acres 4.0 that will greatly improve the power of our Epicentral solution by opening up new real-time access to gaming floor data.
“ As with the second quarter of 2019, we again saw the year-over-year comparability of our 2019 third-quarter results impacted by several large orders that did not repeat. However, our interactions with customers at the Global Gaming Expo leads us to believe that the casino and gaming business remains stable and we expect to continue to benefit from this key market that supports our efforts to continue to ramp up our BOHA! business.”
“As we look to the end of this year and into 2020, we remain confident that BOHA! is on pace to become our largest-ever revenue-generating opportunity. Our focus is on driving near- and long-term success for BOHA!, as we are determined to leverage our position in this emerging market to grow our business and create significant long-term value for our shareholders.”