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TransAct Technologies Announces Preliminary Third Quarter 2020 Net Sales in Excess of Its Anticipated Range
Third Quarter 2020 Earnings Conference Call Scheduled for November 5th, 2020 HAMDEN, Conn.--(BUSINESS WIRE)-- TransAct Technologies Incorporated (Nasdaq:
About this update from Transact Technologies Incorporated
[{"type":"text","content":"\nThird Quarter 2020 Earnings Conference Call Scheduled for November 5th, 2020\n\n HAMDEN, Conn.--(BUSINESS WIRE)--\nTransAct Technologies Incorporated (Nasdaq: TACT) (“TransAct” or the “Company”), a global leader in software-driven technology and printing solutions for high-growth markets, today announced preliminary financial results for the third quarter ended September 30, 2020 that exceeded the high end of the expected range for net sales provided on August 5, 2020.\n\nTransAct now expects net sales for the third quarter of 2020 to be in the range of $7.1 million to $7.3 million, up from our prior expectation of $5.5 million to $6.0 million. Our updated net sales outlook includes approximately $1.4 million to $1.5 million of Food Service Technology (“FST”) recurring revenue, which was previously expected to be approximately $1.0 million. The Company estimates there were 3,800 paid BOHA! terminals in the market as of the end of the third quarter, with an average annual revenue per terminal of approximately $1,470, up 88% from $780 in the third quarter of 2019.\n\nThese financial results for the third quarter of 2020 are preliminary estimates and are subject to change in connection with the completion of the Company’s quarter-end closing process and the preparation of the unaudited financial statements as of and for the period ended September 30, 2020.\n\n“These strong numbers in the face of unprecedented challenges are the result of the tireless dedication and execution of our employees as well as the fundamental strength of our BOHA! solution. With an increasing number of our customers coming back online, we expect demand to continue to increase for both our FST products and our casino technology,” said Bart Shuldman, Chairman and CEO of TransAct Technologies. “We are pleased to have recently announced our new BOHA! Restaurant Operations Platform on Apple’s native iOS platform which will further enhance our industry-leading solution and believe that we are well positioned to meet the shifting demands of food service operators of every size.”\n\nTransAct Technologies will release its third quarter 2020 results after the market closes on Thursday, November 5, 2020, and will hold a conference call and simultaneous webcast at 4:30 PM ET that day to discuss results for the three and nine months ended September 30, 2020 and other...