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TRANSACT REPORTS PROFITS FOR THE FIRST QUARTER OF FISCAL 1994

 DARIEN, Conn., Aug. 26 /PRNewswire/ -- Transact International Inc. today reported a profit for the three month period ended July 31, 1993, the first quarter of fiscal 1994. This represents the third consecutive profitable quarter for the company.
 Sales for the first quarter were $2,732,287 compared to $1,238,948 for the same period a year earlier. Net income was $211,191, equal to 3 cents per share, for the first quarter of fiscal 1994. This compares to a loss of $194,785, equal to 3 cents per share, reported for the first quarter of fiscal 1993.
 "We are pleased with the $698,463 profit, which equates to 11 cents per share, reported for the last nine months ended July 31, 1993," stated Frank B. Carder, president. "An increase in sales inquiries and proposals outstanding, while no guarantee of orders, bodes well for the future."
 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, with a newly leased manufacturing facility in Memphis, Tenn.
 TRANSACT INTERNATIONAL INC. AND SUBSIDIARIES
 Consolidated Statements of Operations
 (Unaudited)
 Three months ended 7/31/93 7/31/92
 Net sales $2,732,287 $1,238,948
 Costs and expenses:
 Cost of sales 2,133,698 980,571
 Selling and administrative 394,415 446,802
 2,528,113 1,427,373
 Income (loss) from operations 204,174 (188,425)
 Other income (expense):
 Interest expense --- (11,233)
 Other income 7,017 4,873
 7,017 (6,360)
 Net income (loss) 211,191 (194,785)
 Net income (loss) per share
 of common stock .03 (.03)
 Weighted average shares outstanding 6,093,235 6,093,235
 -0- 8/26/93
 /CONTACT: John P. Nicoletti, vice president - finance, of Transact International Inc., 203-656-0777/


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

MPOS -- NY037 -- 6124 08/26/93 12:12 EDT
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Publication:PR Newswire
Date:Aug 26, 1993
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