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Annual Results for TransAct Technologies
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Business New Haven
3/6/2000
By: Kristine Hansen
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WALLINGFORD - TransAct Technologies Inc. (NASDAQ: TACT) announced results for the year ended December 31. Net sales for the year were $44.9 million, versus $52.2 million for fiscal 1998. 1999 net income was $324,000 (six cents per diluted share), versus net income of $1.206 million (20 cents per diluted share) for the previous year. The company said the year showed strong growth for its point-of-sale (POS) business, but cited slower growth in the fourth quarter as a result of customers holding off on orders due to Y2K concerns and the absence of repeat orders to two customers.
In a separate announcement, TransAct announced that it plans to launch is new POS inkjet printer at the Retail Systems 2000 Conference & Exposition April 17 in Chicago. The printer was developed through an alliance with Hewlett-Packard and uses a specially designed HP inkjet cartridge
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