Release Details
TransAct Technologies Achieves ISO9001-2000 Certification
TransAct Technologies Achieves ISO9001-2000 Certification
December 11, 2003
TransAct Technologies Achieves ISO9001-2000 CertificationWallingford, CT, December 11, 2003 - TransAct Technologies Incorporated (Nasdaq: TACT), a
leading producer of transaction-based printers for customers worldwide, today announced that it has
achieved certification for ISO9001-2000, the International Standardization Organization (ISO) quality
management standard. The ISO9001 standard is a set of internationally recognized quality management
system requirements, which provide guidelines for consistent quality management practices across
international borders.
The principles set out by the ISO9001-2000 Quality Management System include: customer-focused organization; system approach to management; continual improvement; factual approach to decisionmaking; and mutually beneficial supplier relationships. ISO requires all standards to be revised every six years to satisfy the needs of the global community. TransAct had also been certified under the previous version of ISO9001-1994. The stricter ISO9001-2000 was published to replace the 1994 versions and focuses on the increased emphasis on the role of top management, including its commitment to the development and improvement of the quality management system, consideration of legal and regulatory requirements, and establishment of measurable objectives at relevant functions and levels. This certification means that TransAct meets its customer's quality and applicable regulatory requirements, while aiming to enhance customer satisfaction and achieve continual improvement of its performance in pursuit of these objectives.
Bart C. Shuldman, Chairman, President and CEO of TransAct Technologies said, "We are extremely proud of this accomplishment given the high quality standards required for certification. The ISO9001- 2000 certification validates TransAct's long-standing reputation for delivering quality, reliable products to our customers. Our company is committed to continually improving TransAct's management system and processes and this certification is a result of our efforts. This will also give our sales team a competitive advantage in winning new business."
About TransAct Technologies Incorporated
TransAct (Nasdaq: TACT) designs, develops, manufactures and markets transaction-based printers under the ITHACA and MAGNETEC names. In addition, the Company markets related consumables, spare parts and service. The Company's printers are used worldwide to provide receipts, tickets, coupons, register journals and other documents. TransAct focuses on two core markets: point-of-sale (retail and financial) and gaming and lottery. TransAct sells its products to original equipment manufacturers, value-added resellers and selected distributors, as well as directly to end-users. The Company's product distribution spans across the Americas, Europe, the Middle East, Africa, the Caribbean Islands and the South Pacific. For further information, visit TransAct's web site located at www.transact-tech.com.
CONTACTS: Richard L. Cote, Chief Financial Officer, 203-269-1198 Ext. 6020 or David Pasquale, 646-536-7006, or Jim Olecki, 646-536-7021 both with The Ruth Group # # #
Forward-Looking Statements: The Company's forward-looking statements in this press release are subject to a number of risks and uncertainties. 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; introduction of new products into the marketplace by competitors; successful product development; dependence on significant customers, including GTECH Corp.; dependence on third parties for sales in Europe and Latin America; economic and political conditions in the United States, Europe and Latin America; marketplace acceptance of new products, risks associated with foreign operations; risks associated with the determination of payments to a competitor that has advised the Company that certain of its printers may use the competitor's patents; the Company's ability to successfully sublease its facility in Wallingford, CT subsequent to its closing; 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. Actual results may differ materially from those discussed in, or implied by, the forward-looking statements. The forward-looking statements speak only as of the date of this release and the Company assumes no duty to update them to reflect new, changing or unanticipated events or circumstances.
The principles set out by the ISO9001-2000 Quality Management System include: customer-focused organization; system approach to management; continual improvement; factual approach to decisionmaking; and mutually beneficial supplier relationships. ISO requires all standards to be revised every six years to satisfy the needs of the global community. TransAct had also been certified under the previous version of ISO9001-1994. The stricter ISO9001-2000 was published to replace the 1994 versions and focuses on the increased emphasis on the role of top management, including its commitment to the development and improvement of the quality management system, consideration of legal and regulatory requirements, and establishment of measurable objectives at relevant functions and levels. This certification means that TransAct meets its customer's quality and applicable regulatory requirements, while aiming to enhance customer satisfaction and achieve continual improvement of its performance in pursuit of these objectives.
Bart C. Shuldman, Chairman, President and CEO of TransAct Technologies said, "We are extremely proud of this accomplishment given the high quality standards required for certification. The ISO9001- 2000 certification validates TransAct's long-standing reputation for delivering quality, reliable products to our customers. Our company is committed to continually improving TransAct's management system and processes and this certification is a result of our efforts. This will also give our sales team a competitive advantage in winning new business."
About TransAct Technologies Incorporated
TransAct (Nasdaq: TACT) designs, develops, manufactures and markets transaction-based printers under the ITHACA and MAGNETEC names. In addition, the Company markets related consumables, spare parts and service. The Company's printers are used worldwide to provide receipts, tickets, coupons, register journals and other documents. TransAct focuses on two core markets: point-of-sale (retail and financial) and gaming and lottery. TransAct sells its products to original equipment manufacturers, value-added resellers and selected distributors, as well as directly to end-users. The Company's product distribution spans across the Americas, Europe, the Middle East, Africa, the Caribbean Islands and the South Pacific. For further information, visit TransAct's web site located at www.transact-tech.com.
CONTACTS: Richard L. Cote, Chief Financial Officer, 203-269-1198 Ext. 6020 or David Pasquale, 646-536-7006, or Jim Olecki, 646-536-7021 both with The Ruth Group # # #
Forward-Looking Statements: The Company's forward-looking statements in this press release are subject to a number of risks and uncertainties. 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; introduction of new products into the marketplace by competitors; successful product development; dependence on significant customers, including GTECH Corp.; dependence on third parties for sales in Europe and Latin America; economic and political conditions in the United States, Europe and Latin America; marketplace acceptance of new products, risks associated with foreign operations; risks associated with the determination of payments to a competitor that has advised the Company that certain of its printers may use the competitor's patents; the Company's ability to successfully sublease its facility in Wallingford, CT subsequent to its closing; 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. Actual results may differ materially from those discussed in, or implied by, the forward-looking statements. The forward-looking statements speak only as of the date of this release and the Company assumes no duty to update them to reflect new, changing or unanticipated events or circumstances.