TransAct Technologies Moves Up Expectations for Second Quarter Results

Business Wire, June 3, 1999

WALLINGFORD, Conn.--(BUSINESS WIRE)--June 3, 1999--

TransAct Technologies Incorporated (Nasdaq:TACT), a leading producer of transaction-based printers, reported today that it is beginning to experience a recovery and expects to report gains in revenue for the second quarter which ends on June 26th, and to report a profit for the period instead of the loss expected earlier.

While cautioning that earlier guidance on the year remains intact until full-year order rates clarify, the Company said it was currently experiencing an increase in orders for transaction printers earmarked for point-of-sale applications and video poker machines in South Carolina. Consequently, TransAct now expects to report a profit of at least $.01 per share in the second quarter, Company officials said.

TransAct designs, develops, manufactures and markets transaction-based printers and related products under the ITHACA(R) and MAGNETEC(R) 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 http://www.TransAct-tech.com to receive more information about the Company's products and selected financial data.

The Company's forward-looking statements 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 and greater financial resources; successful product development; dependence on third parties for sales in Europe and Latin America; dependence on significant customers; economic conditions in the United States, Europe and Latin America; 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.