Release Details
TransAct Technologies Expands West Coast Reach With New Las Vegas Facility
TransAct Technologies Expands West Coast Reach With New Las Vegas Facility
December 7, 2004
TransAct Technologies Expands West Coast Reach With New Las Vegas FacilityWALLINGFORD, Conn., Dec. 7 /PRNewswire-FirstCall/ -- TransAct Technologies Incorporated (Nasdaq: TACT - News), a leading producer of transaction-based printers for customers worldwide, today announced that it has signed a five-year lease for a 13,700 square foot facility located at the Hughes Airport Center in Las Vegas, Nevada.
The new facility will serve as TransAct's Global Gaming and Lottery Headquarters and will house the Company's West Coast POS and Banking sales unit. The facility will also serve as the Company's new Western Region service center and will provide service to TransAct's growing base of installed printers in the region.
Bart C. Shuldman, Chairman, President and CEO of TransAct, said, "Given the significant growth of our casino and lottery business in the key gaming markets of Nevada and California and the overall market penetration we have achieved on the West Coast, it made sense to secure a larger facility in a location easily accessible to our customers and partners. The new facility is centrally located in Las Vegas, the heart of the gaming world, and offers optimal access to our entire West Coast client base."
"The services portion of TransAct's business has become a significant contributor to profits and, as the number of installed printers continues to grow, it has become vital to establish a local service center in the region," Mr. Shuldman continued. "Many of our casino thermal printers will be coming off warranty over the next 12 months and the new service facility will allow us to better serve our customers by providing more efficient service and repairs. In addition, this service center will allow us to grow not only our gaming and lottery repair sales, but this facility will also provide us with the capacity to gain additional repair revenue in the western part of the U.S. for our POS and Banking business."
"Furthermore, given the success and increasing market share in the Gaming and Lottery markets we are expanding our reach and support by being, quite literally, our clients' neighbors and partners in business."
About TransAct Technologies Incorporated
TransAct (Nasdaq: TACT - News) 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 (POS) and banking, 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 http://www.transact-tech.com.
FOR TransAct Technologies: Steve DeMartino, Chief Financial Officer, 203-269-1198 Ext. 6059 or David Pasquale, 646-536-7006, or Denise Roche, 646-536-7008, both with The Ruth Group http://www.TheRuthGroup.com
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; dependence on third parties for sales outside the United States, including Australia and New Zealand; economic and political conditions in the United States, Australia, New Zealand, 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. 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.
-------------------------------------------------------------------------------- Source: TransAct Technologies Incorporated
Bart C. Shuldman, Chairman, President and CEO of TransAct, said, "Given the significant growth of our casino and lottery business in the key gaming markets of Nevada and California and the overall market penetration we have achieved on the West Coast, it made sense to secure a larger facility in a location easily accessible to our customers and partners. The new facility is centrally located in Las Vegas, the heart of the gaming world, and offers optimal access to our entire West Coast client base."
"The services portion of TransAct's business has become a significant contributor to profits and, as the number of installed printers continues to grow, it has become vital to establish a local service center in the region," Mr. Shuldman continued. "Many of our casino thermal printers will be coming off warranty over the next 12 months and the new service facility will allow us to better serve our customers by providing more efficient service and repairs. In addition, this service center will allow us to grow not only our gaming and lottery repair sales, but this facility will also provide us with the capacity to gain additional repair revenue in the western part of the U.S. for our POS and Banking business."
"Furthermore, given the success and increasing market share in the Gaming and Lottery markets we are expanding our reach and support by being, quite literally, our clients' neighbors and partners in business."
About TransAct Technologies Incorporated
TransAct (Nasdaq: TACT - News) 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 (POS) and banking, 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 http://www.transact-tech.com.
FOR TransAct Technologies: Steve DeMartino, Chief Financial Officer, 203-269-1198 Ext. 6059 or David Pasquale, 646-536-7006, or Denise Roche, 646-536-7008, both with The Ruth Group http://www.TheRuthGroup.com
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; dependence on third parties for sales outside the United States, including Australia and New Zealand; economic and political conditions in the United States, Australia, New Zealand, 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. 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.
-------------------------------------------------------------------------------- Source: TransAct Technologies Incorporated