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TRANSACT REPORTS PROFITS FOR THE SECOND QUARTER AND FIRST HALF OF FISCAL 1994

 DARIEN, Conn., Nov. 30 /PRNewswire/ -- Transact International Inc. today reported a profit for the three and six months ended Oct. 31, 1993. This represented the fifth consecutive profitable quarter for the Company.
 Sales for the second quarter were $2,491,792 compared to $550,280 for the same period a year earlier. Net income was $217,086, equal to 4 cents per share, for the second quarter of fiscal 1994. This compares to a profit of $45,163, equal to 1 cent per share, reported for the second quarter of fiscal 1993.
 For the first six months of fiscal 1994 sales were $5,224,079 compared to $1,789,228 for fiscal 1993. Net income for the six-month period ended Oct. 31, 1993 was $428,277, equal to 7 cents per share. This compares to a loss of $149,622, equal to 2 cents per share for the previous year. Results for the three and six months ended Oct. 31, 1992 include a gain from the disposition of the Company's Memphis facility of $370,819, equal to 6 cents per share.
 In November 1993 the Company was awarded a $1.5 million contract modification from the U.S. Air Force increasing the value of its contract for work to be completed at Travis Air Force Base in Fairfield, Calif. The Company's sales order backlog as of Nov. 30, 1993 is approximately $3.8 million.
 "The Company has reported a profit of $915,549, which equals 15 cents per share, for the twelve months ended Oct. 31, 1993," stated Frank B. Carder, president. The contract modification awarded by the U.S. Air Force will enable us to begin installation of our equipment at Travis AFB during the third quarter of fiscal 1994."
 Transact International is a specialized design, engineering and manufacturing organization which produces air cargo handling systems and equipment for airlines, air express and freight companies, airport authorities and the U.S. Air Force. The Company's executive offices are in Darien, Conn., with a manufacturing facility in Memphis, Tenn.
 TRANSACT INTERNATIONAL INC. AND SUBSIDIARIES
 Consolidated Statements Of Operations
 Three and Six Months Ended
 Oct. 31, 1993 and 1992 (Unaudited)
 Period ended Three months Six months
 Oct. 31, 1993 1992 1993 1992
 Net sales $ 2,491,792 $ 550,280 $ 5,224,079 $ 1,789,228
 Costs and expenses:
 Cost of sales 1,860,133 484,458 3,993,831 1,465,029
 Selling and
 administrative 421,422 424,154 815,837 870,956
 Restructuring --- (370,819) --- (370,819)
 Total: 2,281,555 537,793 4,809,668 1,965,166
 Income (loss)
 from operations 210,237 12,487 414,411 (175,938)
 Other income (expense):
 Interest expense --- (2,479) --- (13,712)
 Other income (expense) 6,849 35,155 13,866 40,028
 Total: 6,849 32,676 13,866 26,316
 Net income (loss) 217,086 45,163 428,277 (149,622)
 Net income (loss) per
 share of common stock $.04 $.01 $.07 $(.02)
 Weighted average shares
 outstanding 6,093,235 6,093,235 6,093,235 6,093,235
 -0- 11/30/93
 /CONTACT: John P. Nicoletti, vice president finance of Transact International, 203-656-0777/


CO: Transact International Inc. ST: Connecticut IN: AIR SU: ERN

TW-MP -- NY057 -- 8712 11/30/93 11:55 EST
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Publication:PR Newswire
Date:Nov 30, 1993
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