Hamden's TransAct Technologies Inc. posted a 26 percent jump in second-quarter profits on strong sales demand for its latest printers to the lottery market.
TransAct netted $1.4 million, or 15 cents a share, in the three months ended June 30, up from $1.2 million, or 12 cents, netted the same period a year ago.
Second-quarter sales grew 6.5 percent to $17.5 million vs. $16.4 million last year.
Currently, TransAct's core market is assembling and selling printers mounted to retail sales terminals and atop slot machines at Connecticut's casinos that dispense frequent-buyer-player promotion coupons redeemable for merchandise and other items.
"For the quarter, TransAct experienced a second consecutive quarter of significant growth in the lottery market, largely due to sales of our new thermal lottery printer for GTech,'' CEO Bart Shuldman said. Providence-based GTech Corp. is a leading hardware-software vendor to state lotteries in the U.S.
With GTech leading the way, TransAct's lottery-printer sales are more than double what they were a year ago, Shuldman said.
TransAct also is pending with the formal identity of "a large U.S. casino'' that agreed to upgrade some 1,000 of its slot machines with the company's proprietary Epicentral print system for printing promotional coupons. TransAct said June 29 it would name the casino customer in 60 to 90 days.
In February, Foxwoods Resorts quadrupled its pilot order -- to 1,100 units -- to install TransAct promotional-coupon printers on slot machines aimed at keeping players gambling longer and boosting visits to the resort's other attractions.
TransAct is eyeing markets beyond gaming. Earlier this month, it agreed to pay at least $4 million for Printrex, a tiny San Diego printer-maker whose rugged hardware is used primarily in the oilpatch and in the medical industry. The deal is slated to close in the third quarter.