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Transact Reports Q3 Results
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Business New Haven
1/21/2002
By: BNH
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WALLINGFORD - TransAct Technologies Inc. (NASDAQ: TACT), a producer of transaction-based printers for customers worldwide, has reported results for its third quarter ended September 30.
Net sales were $13.2 million, compared with $14.6 million in the same quarter last year. Excluding $571,000 of pre-tax charges associated with the company's plant consolidation and restructuring, net income would have been $203,000 (two cents per share). Including these charges, net loss for the third quarter was $162,000 (five cents per share), compared with net income of $290,000 (four cents per share) in the year-ago period.
For the nine-month period ended September 30, net sales were $33.8 million, compared with $39.6 million in the comparable year-ago period. Excluding $2.3 million of aforementioned pre-tax charges, the company would have reported a net loss of $1.7 million, or 35 cents per share. Including these charges, net loss for the nine-month period was $3.1 million (61 cents per share), compared to a net loss of $196,000 (eight cents per share) in the year-ago period. The per-share amount in each period is after giving effect to preferred stock dividends and accretion charges.
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