TransAct Technologies Inc, which supplies slot machine printers, casino player management software and food safety management technology, posted fourth-quarter net sales of just under $13.3 million, down 26.1% from a year earlier.
Revenue from the casino and gaming division was about $4.2 million in the three months to Dec. 31, down 61.9% from a year ago, the company said in a release Tuesday. The filing did not mention why the gaming division's revenue declined.
The group's restaurant technology segment saw quarterly revenue increase of 54.4% year-over-year, slightly above US$4.7 million.
In the release, TransAct said it had "hired strategic advisers to help determine the best long-term strategy for the business." Details were not specified in the filing.
TransAct had a net loss of $62,000 in the fourth quarter, a significant decrease from net income of $260,000 in the last quarter of 2022.
The company reported an operating loss of about $522,000 in the October-December period, a significant drop from a prior-year operating profit of $494,000.
TransAct's adjusted net income before interest, taxation, depreciation and amortization (EBITDA) for the fourth quarter of 2023 was $587,000, down 54.1% from a year earlier.
John Dillon, CEO of TransAct, said in a release that 2023 was a "year of change" for the company.
"I believe the organization has come out of this transition stronger, more efficient and more operational," he said.
Dylan added, "In terms of food service technology, we now believe we have the right team at the right place to sell to enterprise-class organizations with the new BOHA! Terminal 2 has received a solid response from customers and prospects so far."
Full-year net income for 2023 was $4.7 million, down significantly from a $5.9 million loss in 2022. The company posted an adjusted EBITDA of nearly $10 million last year, down significantly from a negative $5.2 million figure in 2022. 안전한 카지노사이트
Group-wide revenue for 2023 increased 24.9% year-over-year to $72.6 million. The casino and gaming division's revenue last year was $41.2 million, up 37.2% from 2022.
In a filing on Tuesday, TransAct said it expects total net sales in 2024 to be between US$53 million and US$58 million, with total adjusted EBITDA "to reach a bit of a break-even point."
