Printer Friendly

TRANSACT REPORTS A LOSS FOR THE FIRST QUARTER OF FISCAL 1993

 TRANSACT REPORTS A LOSS FOR THE FIRST QUARTER OF FISCAL 1993
 DARIEN, Conn., Sept. 14 /PRNewswire/ -- Transact International Inc. (NASDAQ: TACT) reported results for the first quarter of fiscal 1993. Sales for the three months ended July 31, 1992 were $1,238,948 compared with sales of $4,850,730 for the three months ended July 31, 1991. The company reported a loss of $194,785, equal to $.03 per share, for the first quarter of fiscal 1993. This compares to a profit of $211,023, equal to $.03 per share, reported for the first quarter of fiscal 1992.
 "A slumping U.S. economy continued to adversely effect the company's sales," stated Frank B. Carder, president. "The company has taken significant steps to reduce costs, the effects of which could not offset the impact of the reduced sales volume during the first quarter."
 Transact International is a specialized design, engineering and manufacturing organization that produces air cargo handling systems and equipment for airlines, air express companies, airport authorities and the U.S. Air Force. The company's executive offices are in Darien, Conn., and its manufacturing facilities are in Memphis, Tenn.
 TRANSACT INTERNATIONAL INC. AND SUBSIDIARIES
 Consolidated Statements of Operations
 Three months ended July 31, 1992 and 1991 (Unaudited)
 Three months ended July 31 1992 1991
 Net sales $1,238,948 $4,850,730
 Costs and expenses:
 Cost of sales 980,571 4,091,374
 Selling and administrative 446,802 536,394
 1,427,373 4,627,768
 Income (loss) from operations (188,425) 222,962
 Other income (expense):
 Interest expense (11,233) (24,224)
 Other (expense) income 4,873 12,285
 (6,360) (11,939)
 Net income (loss) (194,785) 211,023
 Net income (loss) per share of
 common stock (.03) .03
 Weighted average shares outstanding 6,093,235 6,093,235
 -0- 9/14/92
 /CONTACT: John P. Nicoletti, vice president, finance of Transact International, Inc., 203-656-0777/
 (TACT) CO: Transact International, Inc. ST: Connecticut IN: SU: ERN


PS-OS -- NY025 -- 9054 09/14/92 10:41 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 14, 1992
Words:337
Previous Article:CREWS POISED FOR HARVEST AT DOMAINE MICHEL
Next Article:WEIGHT WATCHERS ADOPTS RASPBERRY
Topics:


Related Articles
TRANSACT POSTS GAIN FOR FIRST HALF OF FISCAL 1992 DESPITE SECOND QUARTER LOSS
TRANSACT REPORTS A LOSS FOR THE THIRD QUARTER AND FIRST NINE MONTHS OF FISCAL 1992
TRANSACT REPORTS A LOSS FOR FISCAL 1992
TRANSACT IS AWARDED A $4.5 MILLION CONTRACT FROM THE U.S. AIR FORCE AND COMPLETES THE SALE OF ITS MEMPHIS FACILITY
IRT CORP. ANNOUNCES FINANCIAL RESULTS FOR SECOND QUARTER, FISCAL 1993
TRANSACT REPORTS A PROFIT FOR THE THIRD QUARTER OF FISCAL 1993
TRANSACT REPORTS PROFITS FOR THE FOURTH QUARTER AND FISCAL 1993
TRANSACT REPORTS PROFITS FOR THE FIRST QUARTER OF FISCAL 1994
TRANSACT REPORTS PROFITS FOR THE SECOND QUARTER AND FIRST HALF OF FISCAL 1994
TRANSACT REPORTS PROFITS FOR THE THIRD QUARTER AND FIRST NINE OF FISCAL 1994

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters