Thursday November 13, 12:19 pm Eastern Time
Company Press Release
TransAct Technologies Initiates Share Repurchase Program
WALLINGFORD, Conn.--(BUSINESS WIRE)--Nov. 13, 1997--The Board of
Directors of TransAct Technologies Incorporated (NASDAQ: TACT - news)
has authorized the repurchase of up to 500,000 shares of common stock in
open market transactions. In approving the common share repurchase
program, the Company's Board of Directors noted TransAct's excellent
cash position and prospects relative to the current market value of the
Company's shares. TransAct currently has 6,809,000 common shares
outstanding.
''Our Board views the repurchase authorization as an opportunity to
build long-term shareholder value, and it will become an integral part
of our ongoing capital management program,'' said Richard L. Cote,
TransAct's Executive Vice President and Chief Financial Officer.
TransAct designs, develops, manufactures and markets transaction- based
printers and related products under the ITHACA 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 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 transact-tech.com to receive more information about
the Company's products and selected financial data.
This release contains certain forward-looking statements that are
subject to various risks uncertainties, including, but not limited to,
demand and competition for the Company's produc |
