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US – TransAct closes quarter in style

By - 7 March 2016

Having recently launched the FoxPerx slot rewards program at Foxwoods Resort Casino with its Epicentral going live on 1,900 slots, TransAct compounded a successful 2015 with confirmation that revenues were up 12 per cent to US$59.7m.

Bart Shuldman, Chairman and Chief Executive Officer of TransAct, said: “TransAct’s fourth quarter financial results again benefitted from the diversification of our product portfolio to include higher margin products that address new market opportunities. As a result, the 160 basis point improvement in fourth quarter gross margin more than offset a slight decline in net sales and led to an over two-fold increase in adjusted operating income, a 50 per cent increase in adjusted EBITDA, and a 133 per cent rise in adjusted diluted EPS compared to the fourth quarter of 2014. For the 2015 full year, we nearly doubled sales of our AccuDate food safety terminals and generated consistent market share gains in our domestic casino and gaming printer business. Our focus on and success with sales execution, combined with our prudent management of costs and the increase in gross margin led to a 12 per cent increase in 2015 full year sales, solid year-over-year increases in adjusted operating income and adjusted EBITDA, and a nearly four-fold increase in adjusted net income.

“In our casino and gaming business, we remain focused on the growing number of opportunities for our Epicentral promotion and bonusing system while further expanding our domestic casino printer market share. The features and reliability of our Epic gaming printers and our commitment to the highest levels of customer support are valued by operators as reflected in the 40 per cent year-over-year increase in domestic casino printer sales in the 2015 fourth quarter. Epicentral, an easy to use solution that allows casino operators to directly target their players by printing coupons and promotions in real-time at the gaming device, helping drive increased player visits and incremental play, is also gaining traction with casino operators. Epicentral recently went live on approximately 1,900 electronic gaming devices at Foxwoods Resort Casino as part of their new FoxPerx slot rewards program and we are delighted to aid this valued customer in their efforts to connect even more closely with their guests in order to grow their business.

“We also expect to benefit from our recent agreement to integrate Epicentral with Aristocrat’s Oasis 360 slot management system. With the technical integration now complete, we are working closely with Aristocrat’s sales team to ensure we collectively optimize their extensive reach as they begin to demonstrate the features and functionality made possible by this agreement to their large North American gaming operator customer base.”

Mr. Shuldman concluded: “TransAct has built a strong foundation for further success in 2016 and beyond based on our initiatives to diversify our product line to include new, higher-margin offerings. We expect gross margins to reach the mid-40 per cent level in 2016 and expect to generate another year of solid financial results.”

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