Board of TransAct Technologies Increases Share Repurchase Authorization.WALLINGFORD, CT--(BUSINESS WIRE)--November 3, 1998--The Board of Directors of TransAct Technologies, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : TACT) has authorized the repurchase of an additional 250,000 shares of common stock in open market transactions. This latest authorization brings the total authorized to 1.5 million shares since the program began in December 1997. Through October 30, 1998, TransAct has repurchased approximately one million shares. "Our Board continues to believe that the Company's common stock is undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. and that the share buyback provides an opportunity to build long-term shareholder value," Richard L. Cote, Executive Vice President and Chief Financial Officer, said. TransAct designs, develops, manufactures and markets transaction-based printers and related products under the ITHACA Ithaca, city, United States Ithaca (ĭth`əkə), city (1990 pop. 29,541), seat of Tompkins co., S central N.Y., at the southern end of Cayuga Lake, in the Finger Lakes region; settled 1789, inc. as a city 1888. and MAGNETEC brand names. The Company's printers are used to provide transaction records such as receipts, tickets, coupons, register journals and other documents. TransAct serves four vertical markets: point-of-sale, gaming and lottery, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and kiosk. The Company sells its products directly to end users, original equipment manufacturers, value-added resellers and selected distributors. Please visit TransAct's website located at http://transact-tech.com to receive more information about the Company's products and selected financial data. The Company's forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this release are subject to a number of risks and uncertainties that could cause actual results to differ materially. Risks and uncertainties include, but are not limited to, customer acceptance and market share gains, both domestically and internationally, in the face of substantial competition from competitors that have broader lines of products; successful product development; dependence on significant customers; economic conditions in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Europe and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. ; marketplace acceptance of new products; risks associated with foreign operations; availability of third-party components at reasonable prices; and the absence of price wars or other significant pricing pressures affecting the Company's products in the United States or abroad. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion