TransAct generated 2018 second quarter net sales of $14.8m compared with 2017 second quarter net sales of $13.6m with the company’s casino sector performing especially well.
Gaming net sales in the 2018 second quarter were $7.1m compared to $4m in the prior year period, reflecting a 30 per cent increase in domestic casino and gaming sales and a 267 per cent increase in international casino and gaming sales.
Lottery printer net sales were $0.5m in the 2018 second quarter compared to $2.8min the 2017 second quarter as the Company shifted its focus away from this market.
Bart Shuldman, Chairman and Chief Executive Officer of TransAct, said: “We are thrilled with the success that we have had taking over direct responsibility for sales and support for our international gaming and casino customers, which drove a 267 per cent improvement in international casino and gaming sales for the second quarter of 2018 as compared to the prior year period. I am also pleased that we continued to gain market share in the domestic casino and gaming market resulting in a 77 per cent year-over-year increase in overall casino and gaming revenue. Our success in these markets continues to build a solid foundation from which we can achieve continued growth going forward and reflects growing demand for our market-leading Epic printer solutions.
“The strong growth in our international sales reflects the rapid and significant progress that we have made in Europe following our decision to transition sales across the continent from a distribution model to a direct sales model. With this important transition, TransAct is better leveraging our world class customer service and our proven solutions portfolio to grow our business. Given our progress, we remain confident that our international shipments will show continued strength over the balance of 2018 and that we will continue to gain share in the domestic market.”
Steve DeMartino, President and Chief Financial Officer of TransAct, added, “We continue to benefit from the evolution of our business towards technology-driven solutions which has allowed us to expand our gross margin and create a recurring sales opportunity that we expect to grow over time.”