TransAct 2019 profits plummet 90.5%

Profits swing from S$5.43million in 2018 to just $516,000 in 2019.

Macau.- Casino equipment supplier TransAct Technologies Inc suffered a massive 90.5% decline in FY19 profits to US$516,000.

The numbers compare badly to the US$5.43million profit the company posted the year before.

TransAct reported a 4Q19 loss of $800,000 compared with the $962,000 profit it reported for the same quarter the year before. 

Despite the poor headline numbers, company Chairman and CEO, Bart Shuldman, remained optimistic.

“We are pleased with our execution throughout the year as we transition the focus of our business to the very large food service technology market opportunity that is served by our Boha ecosystem of recurring software and service subscriptions, consumable label sales and our purpose-built BOHA! Hardware,” he said.

Last summer, TransAct announced that a casino resort in Macau has chosen Boha to use its food inventory monitoring and food safety tracking system, but the company didn’t identify the property by name.