TACT - Earnings call transcript Q3 2017 | TransAct Technologies Incorporated

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, ladies and gentlemen, and welcome to the TransAct Technologies Third Quarter 2017 Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions].

As a reminder, this conference call may be recorded. to conference like to now would turn over the Mr. I Leahy. Jim may Sir, you begin.

Jim Leahy

Good to and Third you, afternoon Thank Kris. welcome Call. Quarter TransAct Conference XXXX Technologies

Joining strategies, call third will and a discussion on are President the the company's quarter CFO, these include us key initiatives, the Shuldman; details operating and Today's results. Bart against and Chairman DeMartino. Steve of today from progress financial CEO, company and

open then participants call the will We for to questions.

future as events conference in differ this a actual about are this contains As results expectations, call forward-looking and statements nature. call reminder, which may forward-looking may on Statements be materially. deemed and

the measure as meaning to company's comparable today's be release Form For G. Today's directly financial reflect to events in reconciliation on a as to Shuldman. any this in most the after to financial turn required financial XX-K all the Bart? found When non-GAAP TransAct to a undertakes please call revise inherent the occur Web to forward-looking call. filings, refer statements webcast measures over of include and with the of within site. the GAAP measures company, full presented and press accordance I’d can of the risks At business company's time, or and well on including update calculated and or no SEC list non-GAAP XX-Q. obligations that will the Regulation SEC call circumstances reports its like to Bart

Bart C. Shuldman

to review call, fabulous quarter sales of million, $X the business by third detail you, income this what quarter we webcast. settings. excited us million begin was aimed and this our million. in afternoon's for of today second for in like strategies and strategy. our we significant were by focused On on providing Jim, detailed saw who moments, conference restaurant few have in XXXX Steve EBITDA more technology integrated $X.X successfully team everyone reported but high-level long-term update some about our opportunity pursuing I’d we and a restaurants TransAct assembled our adjusted which and comments third net Earlier investment operating will of key these at as in exclusively to our a I’m provide professionals sale results offerings and solutions a four of monetizing joining including food we that on Thank call are and service noting afternoon, market. quarter $XX.X the to welcome results initiatives an market

and full customers offerings. goal And product TransAct the with to long-term of implemented for our with providing forward Also, of aimed direct have AccuDate exclusively of between revenues terminal. customers our addition, May on which National driving launched to the operations Restaurant the with providing of we labels solution. we lineup in TransAct this and the best the long-term markets these campaign we experience suite These of our crucial labels software a full offers developing continuing marketing want now strategy a they at our other sales warranty as which ecosystem a terminal terminals from functioning recurring Show warranty awareness we have to finally, in branded and is we revenue year. labels our for support service, team reliable launched recently ensure In extensively are AccuDate terminals. officially labels our our creating terminals XL customer at of if recurring with moved TransAct require We to know tested our by the use a maintenance

exceptional And of industry solutions purposely as solutions biggest food is four our the the diversifying strategy house. restaurant and last at I is rest brands With our and gaming product over several industry casino lead XXXX. years The match, over before no head offerings it which can beginning all that Our of of all roll-fed take towards is be we software technology-driven know positioned are are brief this Systems said to I and the we execution in long-term strong over will these and known but market XL our in in restaurants suite companies results. place for improvements as development as which business in financial the on our high-value opportunity exciting, technology the Epicentral, like focus am in from and well XXXX gross businesses. higher for industry well be of I’d share. of they so strategies basis because major world succeed successful large, the our Net record opportunity. enhancements earnings the quarter selling print drive is that and the our the a we market and today In technology-based a TransAct is investment and software well the market, we to who of growing, built solutions printers and in a and well. firmly established restaurant margins I’m with among the sales in company changed as per in restaurant sales and restaurant also of the years. full today, developed quarterly in on quarterly our to the also and will focused There’s solutions crucially taking We to AccuDate technology. consensus record on profitability biggest nearly growing interest the quarterly as some with the insiders ticket range sequential not just doubled third the a this of delivered our operational market bring have the across we increasingly revenue of with the the software believe forever. Jolt coming CrunchTime and we expect what related to partnerships of opinion, focus the relationships solutions hear call that the in lack team real of into will the restaurant while featuring Steve, we bonusing pleased like and restaurant the transformation and to turn look supply system. back the the a leading proud technology and Information promotion services We

Epicentral that the Aristocrat slot York slot management SE We New casino. We completed recent believe then which slot deployment back are industry casino very free between we XXX Epicentral with a and OASIS tickets can be into integration their the and pleased in the this first resulted an time system, reinserted at in at with the machine. play the machine represents printed SE

strategy business, to to their overall as We For Printrex, a won while are ramp very the market does small industry overhead the this activities. is and and piece with profitability of with oil work at to it’s still TransAct. business little up companies and or starting gas, the our our add production exploration it

the our we earlier, contributions existing also our of and I are parts XL. support from on lottery growth growing due TransAct from Services spare sales lengthy strategically and contracts the focused sales the benefitting branded we AccuDate noted around coming extensions increased TransAct software as market our from of through Group. sales recurring Finally, grow offerings labels pipeline are from to as recurring the is And One the world. for sales area maintenance

to focused the story and markets likely executing recurring to in on basis. more and quarters as AccuDate technology. recurring expect sales as We benefit more for is excited we products on have be coming a by revenue drive these the Group provide and on Services to TransAct the TransAct our is the TSG demand very results made strategy our strong services related good XL we Everyone years, in further remain are and move truly with we from sales. a

review call which results, Now, for opening to I’ll summary I’ll the questions make the Steve? to deeper turn the and third of Steve answers. quarter before over after remarks XXXX some call a

Steven A. DeMartino

afternoon, everyone. Bart. Good Thanks,

in net of up third were million, quarter quarter XX.X last X% XX.X sales million from Third XXXX year. sales the

by year-over-year we restaurant grew XX% our in efforts to XXXX were in automation X.X third solutions sales during from prior POS sales a are largely the sizes. higher banking to from XL. X% installations million quarter. sales in sales million AccuDate and a growing our doubled quarter Looking in benefit from growing solutions as On were Ithaca of as all market quarter internal gaming restaurant X.X as the printers build record from saw third sales as we XXXX two gaming team our of nearly market; XX% sales 'XX. as third Casino pace the U.S. $XXX,XXX from year-over-year year's to relatively for sales X.X to a McDonald's down shipments basis, the sales out XXXX last or was of slowed X.X were solution million sales the third million, these well seeing interest year year driven sequential what from casino ago. to terminals at by to sales from due quarter, as of and by healthy quarter. from down as new $XXX,XXX Epicentral or well we began as well The operators and in Domestic our as XX% QX, AccuDate up of rise our quarter or the the

compared decline in down XXX,XXX roughly just oil year down to were and with again Lottery million both saw were as quarter product XX,XXX sales XX% slot sales and shipments gaming year-over-year X.X casino of a as the to we ago, in printer printer international casino X% particularly just However, compared year-over-year. XX,XXX quarter. gas and the saw in sales remained increase shipments manufacturers an or again gaming we in Printrex Europe. as and operators, prior printer sales year flat a were

for in will XX% and of of our to relatively the new the While the levels part gas third as of to and believe both growing current believe service us as the a sales for remainder XX.X% related Printrex business stream we contracts in we the XL, is spare Gross TSG benefited significantly compared sales quarter signs sales lottery year-over-year quarterly support with to business up with market 'XX. for quarter third to provide were and higher for our the XX.X%, initial recurring margin from restaurant of well consistent high come. life, 'XX. overall of solutions showing products million a oil the from which reached will record X.X the AccuDate as us remain labels years revenue

from Our sales. gross solutions benefitted mix, and sales lottery record margin favorable restaurant of including offerings quarterly higher sales the spare very part

now solutions or of margin gross quarter mostly from to that well gross driven from of like that we first and the operating X% solutions Engineering, margin to solutions, million, third year-ago quarter for even and results related X% our we year-over-year. in or is business the year-ago launched X.X value of decline by marketing up over million, X.X% of new quarter for awareness to us up can the spending third AccuDate were X.X quarter the past X.X 'XX that the high-XX% legacy get period offerings, and for design heard third up operating quarter of successfully higher were half the level labels XX,XXX time. higher prove for we our million, touch believe income X% as products support restaurant the quarter and gross our and recurring million increased and these comp quarter. range marketing year-ago X.X this newly campaign driving and X.X XX%. product transitions away our restaurant achieve even over compared margin XX,XXX 'XX quarters levels force these or the Selling third to few third elevated surpass third fully Operating million terminals, Total say Well, XX.X% as would service our of sales You’ve eventually in development as offerings. income XX% direct relatively for towards as incentive X% reached our and through G&A grow the year sales now the just were to expense. expenses sales hired direct and mid of over or period. the staffed or expenses the the expenses our expenses of sales up were consistent,

to the period. EBITDA doubled the million third X last quarter for climbed sales drops demonstrates new million in of to business higher to margin in down 'XX again third once a our Diluted to EPS of adjusted of model quarterly 'XX record year. the $X.XX quarter of record XX% margin gross operating third for Our compared the growing entirely the X.X XX.X% compared quarter $X.XX income. operating year-ago where leverage on And to operating almost our

of of our $X.X had of turning approximately some closing existing million debt. well to shares the in we X.X cash of sheet, dividend during a no Lastly, approximately as returned And share quarter year. remarks. approximately stock $X of remaining call $X.XX total September, hand the I'll quarterly February cash Bart XXX,XXX. with this at to ended of the as we We quarter capital point, million to third the and XXXX balance the in under last a through the cost we shareholders $X repurchase repurchase authorization for that back announced through as total end million And at million of XX,XXX per share our of

Bart C. Shuldman

the portfolio the to our what business promising software-driven company. significant opportunity development began solutions was we our heritage we terminals time which AccuDate Steve. the technology believe enter saw Great restaurant AccuDate XXXX, become print-based of is decision job. solutions. in from would beginning to our a of what benefit At Thanks, we with TransAct’s transform long-term

markets. our creation. demonstrate of this gaming position ultimately from the steady enhance to market, to the our benefit quarter At profitability invest and out leverage casino, playing new drive decision target and flow as margin time, in shareholder deliver cash value expansion to technology this Our we to begin TransAct XXXX as leadership planned, continue thanks that lottery our the same by is market shareholders to the will generated that third solutions results in ability our new in to

offer my our excited for my to work to team sincere TransAct want over the I continued the diligent to Las I the those appreciation ready which end entire continued to its that As long-term results. call I’d offer and look Strong. at by sends the presentation I XXXX gratitude In beginning our shareholders to also horrific we’re to prayers to we by TransAct that their questions. are like clearly best deep close shooting senseless and Vegas; And success. questions, all before Vegas TransAct believe efforts our their XXXX, to company, real were thoughts for impacted Operator, and in turn we’re support. and say take we to transform their ahead for to everyone potential closing, has now days the drive and Las

Operator

you. Instructions]. [Operator Thank

Anderson with B. first FBR. Riley Our from question Kara comes

Your open. line is now

Kara Anderson

Hi. Good afternoon.

Bart C. Shuldman

Hi, Kara.

Steven A. DeMartino

Kara. Hi,

Kara Anderson

of more restaurant I’m wondering of any if respect on you percentage with included specifically can provide Thanks. categories, quarter the TransAct? larger solutions what or detail service? to the sales by sales then directly labels the sold then color rollout. And reflected the was that a lastly, if XXXX sales And within in

Bart C. Shuldman

the in Okay. erect. Most were sales TransAct of the quarter

hence sales our our nice from thing of I repeat mostly about with while customers direct distributor and – but terminals amount the as and a – customers of as of solution the looking why their we sold the the of one importantly back that because XL at now a a lot XLs of fair more quarter the are house. we the they TransAct. by relationship Our sales past exists in some quarter, were sold magnitude I some lot the some bought say still the customers XXXX, in us. terminals rollout different would for categorize they But QX sold should The a

of in which we in the of way lot back the expensive it’s marketing to customers directly which our are that the CrunchTime customers third that tell of not company’s dealing inform the with the shows restaurant had of started the a now the about that most direct quarter with I the but we’re And working by looking show we company a show amount opportunities We dealing way different amount that talked with. up XL And not and XL customers started the the the started we’re probably which terminal. of those big XXx. to to sales launch total comes both by a of and only is digital relationship through is of third some customer dollar ones up have a But both and in is had that as CrunchTime the with volume. full quarter and very sales that May, only or the really wonderful. it the but the Jolt. our revolutionizing our of And dollar of gone on ones office is And total the coming the campaign came clearly is think great has we and volume I only not but at not board dollar system that you would in quarter our our as rollout name label that sales. CrunchTime your volume by which can opportunities course campaign with

going So quality to our to and expectation the Kara, get And due allowed of re-buy looking again the going. is things and decision terminal the we’re there amount the is would ratio, be ratio what be now and sales. to the customers which labels, sell the at, get keep and per with terminal control XLs year and to what the what us experience labels that the we of out be more labels tie we our our the tie that the in of reliability one that will the more call labels customers the the would as terminal sell

to on many recently then fair offerings menu that’s we against depending or year-after-year. of the now we’ve integration, service terminal and manage those menu product the call amount us terminal a provides service a deal. them a then is a years just can integration have which itself. I a will to terminal customers cloud with included whereby customers if deal their franchised of of then and the we’re because technology any of for Bluetooth, our also sell agreement where of services. them our added or labels if how support our customers introduced and we company the would them bought it’s with of Each manage the WiFi, give technical cloud And So service of restaurant amount help say the on certain help price, for on What that that get type selling service the a do menus, period then we

offerings added or our now both customers service. and to our of product menu So to service we’ve engineering technical

of third the some sold And was in that also. quarter

Kara Anderson

from how Thank you. lottery that second the then is much question or spare was Group. quarter have was topic of mix, benefitted around pickup Recognizing you the can in That the was very of Services helpful. perhaps the effect the And discuss parts year? margin TransAct margin you can and area that some quantify gross gross I very the in expectations strong provide favorably for the balance of hoping

Bart C. Shuldman

Yes.

at you about than printers. POS wonderful relationship higher you if gross really else at If and look margin with Really in old the that we’ve our amount think have lottery the you see. it, that’s other than legacy sold of left basically customer one decreased mix, we Kara, the is McDonald's. Everything the

business, repair safety the it’s services, terminal the gross add the just adds margin. that. to not everything that spare But So food alone. all and parts to the the the technical services business, Clearly, label

really lottery our margin products everything Everything is impacted the gross gross our by printers. of benefits than and else margin our line. sales other So favorably legacy

Kara Anderson

you. Thank Okay.

Operator

Thank you. [Operator Instructions].

question Eilers Our comes Research. Todd from from Eilers next

line now open. is Your

Todd Eilers

a questions for congrats taking Thanks my quarter. guys. on Hi, nice and

Bart C. Shuldman

Todd. Thanks,

Todd Eilers

healthy a talk little business, to obviously the wanted a bit about casino I quarter. pretty

like a business maybe that you of at if believe, market some it of I number. You pretty I’m for the maybe which share could up some is had being maybe both? seems XX% combination the strong us gains picking a is sense much year-over-year give comments market versus how wondering domestic a about or

Bart C. Shuldman

the at don’t both, back in And a announced you casino we have position from their the the Caesars anybody our the think domestic be it’s buying clearly competitor look a new mystery have in fact street, MGM, recession, the market a Caesars. customer going to great that competitor that of to if And combination the of we that slot came It our the after is I didn’t of one that out side benefitted financial of were they market issue. and we Todd. have street, other has side the machines.

back are pleased we that so and is the is in that clearly Caesars market us. benefitting So and

look, are be seeing a – some We of the could sales come most share our gain. a – healthier of through that lot Remember, sales OEMs. our and market of

be that for of customers have Clearly, lot some interest more is and share gain. could ever prepare Epicentral to a than So that. there in before

for new the So to need start if to from XXXs, installing not transfer they planning because they their XXXs competitor or on Epicentral they’re floor XXXs. machines another their floor two to with over to year our get they as buy

that like that have facility opportunities to think thing lives we our direct. decision that to a by force the quarter what the to market add Nobody you same sometime up of European sells for is do. thing our success Steve has in Europe. said restaurant as already that to a first But the we having that and And me we’re second restaurant we’re taking the a we now TransAct and amount I as be was as gone that XXx, our that expect should proved the to having, we’ve breathes the going direct or day made business for to hard other success happen And Europe. market we is The we business business and and in due this savings I has directly. in sales disappointment having quarter every believe takeover next sales know, and in direct. that Todd, been It’s because going Europe actually is us, business cost to us a take

go make we’ve we done about because excited very this. at in we’re So us convinced really Europe the a market move that what can the that in we’re restaurant making

going TransAct. lost easiest color The a we’ve don’t So at think I many in what’s years. little is I puts a opening Asia. on that on new hope

Macau happens for revenue be So doing printer now excited markets are to sales Vietnam, see Asia the way Clearly of It’s and we’re both things and Philippines, good there just day. up at and every these opportunities some are toping in by is what the looking Epicentral. that better. their to other there,

we see Asia. a play So Epicentral as in

So see hopefully on will more what’s on how that and give at little we you a market the color TransAct. going

Todd Eilers

Yes, I color. very helpful. appreciate the

to two in the Just slots new in installs Epicentral total the installs terms I on Epicentral, on And you update the Can do quarter. of total had point? follow for fourth any guess casinos you quarter? at have at give an you in us you’re where any expectations this or

Bart C. Shuldman

the success what really Aristocrat were of XXX opening pretty is done. demonstration can And that pretty Aristocrat in be not Epicentral also to to we eye had the I The was we solution. pipeline only where but good. can and Aristocrat take for installation SE able with in booth with SE regards those The saw think to that get that Oasis this a to customer

which both clearly New markets it companies us excited getting about opportunities. presenting quite and like with are is So in York more pretty competitive is

the that we’ve that get installations out talk what’s good XX Epicentral, of of and some to street we’ve we’re which to seeing with play looks about growing that really is it. some about places need maybe to integration. to where they’re business A that of features out see do certain a their out comments competitors I because so don’t say But finally markets We And to can Our or would it close. Epicentral. and might lot start it. got Epicentral not going has across to down good talk [ph] miles make us pipeline going I come starting of installed about guy competitive has wanting the close X.X.X lot out what’s wow, with the and really really of we’re in to say, the pick pick to and markets goal street the

– printing now since the the integration We’re other on like Epicentral do first next to or actually really play any can tickets the that next a the on first about ticket slot on in great able with And of we in Aristocrat customers. back out during XXX, launched that’s and with a the our play print or be after in. buying that casinos able we on the upgrade promotions. another time casino to to our the for because working which we’re input XXX, upgrade And somebody’s through session allows cannot talk working the which And can’t was to it. hooking machine put during do is the the product. and recession, take got able of with something is free time Oasis time And ticket and now that we’re play next things can use we thing being free this machine us time by the letting that accounting do that do, our out which they own, of and we’re Epicentral market session at with really print at think bonuses and us free history seeing And nice patron our own don’t we any free they up a Oasis we tickets it of play I do is put which it day, and slot and things – that.

Todd Eilers

Again, appreciate color quarter. the on and congrats the Excellent.

Bart C. Shuldman

Thanks, Todd.

Operator

Thank you.

of Mitchell Asset. Grand comes next Our Sacks from Slam question

open. is now line Your

Mitchell Sacks

quarter. your Congratulations on guys. Hi,

Bart C. Shuldman

Thanks, Mitch.

Steven A. DeMartino

Thanks, Mitch.

Mitchell Sacks

it of the just me on had you on do kind next margin, think where to based walk through your during gross of. with couple remarks goes going mix? gross talked then that think With can years Steve respect I about you prepared margins over what’s and the where And of are sort

Steven A. DeMartino

from is gross be You quarter representative third a margin see Difficulty] of could [Technical what can TransAct standpoint the kind of

Mitchell Sacks

Hello?

Bart C. Shuldman

me? hear on everybody my I’m cell Can phone.

Operator

can you. We hear

Bart C. Shuldman

Mitch, on? you are still Okay.

Operator

no He’s longer in queue.

Bart C. Shuldman

go products was layer saying Steve All there we And gross TransAct that what our to do clearly questions? operator, not shows isn’t and the are Mitch would if margin right. actually I’m asking about on, quarter him still since gross was over new as can on. Mitch talking are third time XX%. the as could our expect investors the online, margin more And above that any

Operator

We with have a question from Jeff Cowen. Bernstein

Your line is now open.

Jeffrey Bernstein

guys. you. fabulous Hi, fabulous I to is say. Thank Well, have

the were the Obviously operating like on the crazy, both point margins sequentially about Any were gross in some incremental at margin, you thoughts just insane. and business. margins So year-to-year that? reinvest gross

Bart C. Shuldman

always our products from a we that take you’re income that leverage business expenses operating margin as gross at this get you so the we right, operating and business, of looked standpoint drop the that We’ve higher Yes. and no the margin level layer and seeing, introduce to doubt. it expansion control in as a can that

– XXXX, we’ve now look products restaurant full of for at you looking We’ve right? looked so and our at got solutions XL. If the market, complement the a the how got we’ve the in market, Pro

only the terminals; marketplace ones or three different the in with we’re good, best. So better

the So has engineering accomplished. a work been of lot

for If you things custom and like market, we’re printer designed lottery look ticket and printers a ones at enclosed the roll-fed printers, that. cages with casino printers, only really the

full complement of there. So we’ve products got a

for out go and we So And our to over out. products, team years. next finish product next the schedule engineering the we’ve our couple built is as development of designing we laid pretty much new

to won��t adding you regards in cost see engineers. So much more

are market a money. and that and we’re going change, change making actually actually casino direct to done with our for with once we’re Asia We in save Europe sales

save and to on going deal. increase money sales that we’re So

don’t been restaurant marketing digital, more you’ll much you not grows, that as successful. the we’re because is what marketing I that doing and see it’s very expensive think So see could market

extra put if here other and could out markets, sales there? markets grow You could person an – there faster could. we add see us little We a little a just than

operating the top a grow So not going you’re as increase we stair-step in to expenses see line.

sales could level. stair-step and at see certain come happen. to Now, like or in Steve definitely need hey, that say, to see going another me could increase not we’re you’re a But to expenses you’re might gross accountant operating like in that. and That margin. going something We

Jeffrey Bernstein

Sounds great.

Just driving driving it, or a a what’s that? are it follow is ups bit now bit a you the for talk you food more restaurant. the franchisors just that’s part mostly is talking of flavor quick So equation couple to safety little that’s Can now? it give little efficiency franchisees this, on about driving

Bart C. Shuldman

the that’s believe fantastic safety back a you of that. topic it. asking is it’s restaurant to Food Food really just I food safety drive and question part way thank of but the automation the and is a is this of that going for I the important. By safety is

to facto de to If product, be we we and going you’re opportunity. of restaurant, what little then to a basically And industry are amazed technology some terminal a that to then the we they’re of the And back also in what environment. what it going in that us kind the see and restaurant you amazed systems knows one, it’s systems the just was talking people of off that. then that deducts the tell think and used interfaces design restaurant. of in total that movement talked we technology that’s going our the build, to the and investing controlled have inventory about there’s of on back our the how about terminal and size manufacture the to I all people this ERP very in it’s they’re money their our And then believe how lot

just talk it’s about on look much was be produced, efficiency. does because so be X% restaurants walk-in a just the to And used So if them you told what going how over so they need much And what ordering our the they because how It’s food, was tomatoes, but they savings system didn’t looked actually enough or weight X% can ordering in next regards month, the produced versus to the they see that should they’re huge. partner at going to producing ordering be they tomatoes. what and in month. you they’re it’s to be the over automation. inventory the When understanding should what so not last drop you

And it of restaurant whole our not with the the back So but of really what’s safety conversations part it. are food automation to going drive this of is the going to is franchisees. be

with is conversation Our the headquarters.

and decide rollout the with of of in working they house. automation companies We’re the the IT how restaurant departments the back the as to operations

Jeffrey Bernstein

center to talked be equipment the trying able I guys with everybody lastly, the together? know and integrations you so wants kitchen How’s about become IoT sort talk have to of to their that And smaller make kitchen something. equipment, coming to

Bart C. Shuldman

a of the and to number up you it’s going The talking all this restaurant the going the it’s time. your refrigerator my But better wanting say two can industry. Sunday or talk companies manager say, the technology. take cloud on Look, food. to and are temperature If a look call hey, the going you’re night and talk it’s industry the talk of lose about refrigerator can is and at operations

terminal doesn’t need Now, in be is We for And overnight. need we to it first the the to us be there. our market. happen thing

being look Jolt these IoT, all it in because what by technology, the as company the and terminals got more So my which That’s marketplace. A Hey, going to you restaurant what’s I by to to three talk what’s companies CrunchTime, can terminal restaurant. discussed to which that my look cloud. information like way it’s if in says, look do to doing in cloud-based or three send restaurant companies they as two at is then and the got a do also, we’re why happen and I is terminal the you don’t restaurant per terminals way the to or

be to need to first. be need we So We there.

take in discussed the of having it. all hey of sign out come having somebody and bathrooms, having remember the the they manner. somebody that these up Not phone. the having that the the are things did These a And clean the to move it when operational chats it are and that first now area, out restaurant, it, on screen use people do bin I should being on the sign out management to and I clean the when know come And it efficient being and an picture they like boss, is be but garbage? things say, send done on in to cloud did when take are somebody up I I screen, in think the cell the things today. going garbage the efficiency, relying industry garbage the or take it

just We just, first in inning are this. the of

Jeffrey Bernstein

Terrific.

guys. great, Sounds

Bart C. Shuldman

Thank you. Okay.

Jeffrey Bernstein

taking questions. Thanks my for

Bart C. Shuldman

Yes, thank you.

Operator

with up Thank you. a with Grand And Asset. Mitchell we Sacks Slam have follow

now open. Your line is

Mitchell Sacks

Hopefully guys. this thing Hi, my drop won’t time.

to were labels panning the how of that warranty, purchases with out? correct? call So to is about XXXX XL. warranty And talking you that keep so, requiring yourself from your respect on I think Was if and on the

Bart C. Shuldman

is answer the yes. So

of our some because like requiring And customers them. more XXXX McDonald’s, label We labels we for are with label as than use the on been out deals. XL the warranty part to approve companies of the and had to our a have XXXXs the already already

it’s So really the XL. on

what learned instance, you paper different the in pieces. lottery but at Look, good. for one of became don’t our so the far, paper the market, if look So we critical sell markets, we

Let again. me start over

printers and XX We have bizarre a cutters. lottery that and that works it’s meet And with kind XX Paper have so are customer that that certain millions a done have was and printheads years years. be spec printer very just way and thought that the millions Mitch, by XX think disruptive to you if control XX to out working printers, or paper transactions. that, worked. the we And there can their and paper to the about of for our suppliers of controlling

let but to down, of So that’s a printer bought very it. into a which terminal any the system, you just the walk cheap we’re system part selling be able we’ve because Echo is production a supply paper. but with breaks reliable breaks, for we that learned say a going that. somebody And system If good and us. printers, not start technology go we When you to paper, of we want you the marketplace can’t are about can’t to if think we’re to choose sell this and terminal any terminal because going

very, So it’s and very our accepted been pricing’s competitive.

that So customers. don’t overcharging we’re think

Our weekend. McDonald’s. out we restaurant printing not we’re was that’s That and we But that XX,XXX, nice printing be first and billion, the is terminal able what in price like lottery to go we’re printer same customers business. had their in labels industry getting device is like thing to on as why our now Powerball can’t that our to system some XX,XXX this controls Echo down. do very have customer XX,XXX, ensure know for the in and And our transactions knows business. important the be. because to We’ve to restaurant, got what $X.X had keep we When the did because the a we it hits printer become to know the

terminal the and of work. part that now We’re to system production has

understand it’s our cloud paper. software and Internet and customers that the So system combined our between the a partners, between

Mitchell Sacks

XXXX solutions. Okay. And call bit some guess third you believe I quarter a the little started your was but about then talking on you sales the in get still to XL. remarks the prepared of were restaurant in mostly I sales

the start As does move direction? future quarter and quarters, this that to you into cross

Bart C. Shuldman

I more think next us comes us, with amount year their and a revenue. telling are see it I people fair rollout, on would is recurring really which when what crossover based for and good year the Yes, we think next quotes that because of would

about starting excited next see really we’re what So we year.

Mitchell Sacks

do And Europe. the with to final question has

of starting understood QX I in-house you’re as to So sales XXXX. in it, switching

not then next the For sales part that activity second lost delayed does And the the sales between? then just this there, year, question of get remainder the they in are until muted stay getting those that or of you’re sales is, that year? are

Bart C. Shuldman

great a it’s Yes, question.

machines. seeing I know to of Other starts kind our customers one think see how business what floor our quickly with what that newer the don’t fourth we is casino quarter. change of in – than with you’re we’ll slot the just

of how quickly we for out right ran and on them going what based ours year positively. situation, found The So two. kind on and customer quarter quickly Europe spend interesting. something how or could now a it’s and they’re in to nobody’s a of going or that affect fourth our not on into There’s called European

lost sales, not it’s Mitch. So

marketplace. We’re going us back. in of only to it two There’s get the

good up, about people saw very you Europe could answer on be our over. what at how XXX, we’ll customers it what in think that we I able with feel reliability questions. back there’s We the works, loving we to how on do went phone the GXE back take once at the it

Mitchell Sacks

to the for Okay. Thanks lot the a answers questions.

Bart C. Shuldman

Mitch. Okay,

and I very sorry for and phone it system happens to the here got feel and sometimes apologize bad. phone We’ve And I that everybody a about dies cursing.

So I apologize for F word. using the

Operator

Thank this time. the like Bart at for any further Shuldman will to back call you. showing now I And I’m questions any to remarks. not turn further

Bart C. Shuldman

Yes.

sticking So up we gone this transition. really we today, also shareholders everybody with for thank us with our us for as but we’ve thank putting through

excited the We’re future. about

restaurant in It’s see excited just industry. the what about we We’re beginning.

in pleased some We’re But really just is team sticking us engineering. beginning really for of make believing excited about and to this proud couple and and with years over thank what our and the the hope is deliver good with us. you our I we us really shareholders here, our doing results next of

Thanksgiving. we support. And thank the talk We’ll Happy your probably So to after many you New have a until for won’t Year.

you, have everybody. So healthy New happy and Thank be safe. a Thanksgiving a Happy and and Year

Operator

concludes This thank today’s gentlemen, today’s for participating and you Ladies in conference. program.

have all day. disconnect. a great may Everyone, You

TransAct Technologies (TACT) 1 Nov 172017 Q3 Earnings call transcript