Release Details
TRANSACT TECHNOLOGIES RECEIVES NOTICE OF ALLOWANCE ON PATENT CRITICAL FOR CASINOS THAT WANT TO DO PROMOTIONS OR COUPONS
TRANSACT TECHNOLOGIES RECEIVES NOTICE OF ALLOWANCE ON PATENT CRITICAL FOR CASINOS THAT WANT TO DO PROMOTIONS OR COUPONS
March 14, 2005
TRANSACT TECHNOLOGIES RECEIVES NOTICE OF ALLOWANCE ON PATENT CRITICAL FOR CASINOS THAT WANT TO DO PROMOTIONS OR COUPONSWallingford, CT - March 14, 2005 - TransAct Technologies Incorporated (Nasdaq: TACT), a leading producer of transaction-based printers for customers worldwide, today announced that it has received a notice of allowance from the U.S. Patent and Trademark Office that provides claims for its dual port printing technology for the gaming industry. The technology covered by the newly allowed patent application is important for casinos that want to do promotions or coupons.
Included in the newly allowed patent application are claims that cover a dual port printer that can print cash vouchers and also coupons or promotions which can be utilized by casino operators to target marketing programs directly to the slot player. In the printer, one driver or port receives data indicative of voucher information from a local controller and the second driver or port receives data indicative of coupon information from a central system controller. The dual port technology allows the same printer to be used to print both vouchers and coupons.
Bart C. Shuldman, Chairman, President and CEO said, "This latest patent is extremely important to TransAct because it validates and serves to protect the intellectual proprietary printer technology we offer to the casino industry, but just as important, it continues to demonstrate our expertise in developing innovative solutions for the casino and gaming industry. This technology, which is an option that is available with our new Epic 950™ thermal slot machine printer, enables casinos to utilize slot machine printers for highly effective marketing and promotion activities. We expect that as casinos continue to refine their promotions and marketing initiatives, slot machine printers will continue to play a central role in their efforts. TransAct has the printer line, proprietary technologies and intellectual property portfolio to benefit from this trend."
About TransAct Technologies Incorporated TransAct (Nasdaq: TACT) designs, develops, assembles and markets transaction-based printers under the ithaca® brand name. 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 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
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 significant vendors; the ability to recruit and retain quality employees as the Company grows; dependence on third parties for sales outside the United States, including Australia, New Zealand, Europe and Latin America; 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.
Included in the newly allowed patent application are claims that cover a dual port printer that can print cash vouchers and also coupons or promotions which can be utilized by casino operators to target marketing programs directly to the slot player. In the printer, one driver or port receives data indicative of voucher information from a local controller and the second driver or port receives data indicative of coupon information from a central system controller. The dual port technology allows the same printer to be used to print both vouchers and coupons.
Bart C. Shuldman, Chairman, President and CEO said, "This latest patent is extremely important to TransAct because it validates and serves to protect the intellectual proprietary printer technology we offer to the casino industry, but just as important, it continues to demonstrate our expertise in developing innovative solutions for the casino and gaming industry. This technology, which is an option that is available with our new Epic 950™ thermal slot machine printer, enables casinos to utilize slot machine printers for highly effective marketing and promotion activities. We expect that as casinos continue to refine their promotions and marketing initiatives, slot machine printers will continue to play a central role in their efforts. TransAct has the printer line, proprietary technologies and intellectual property portfolio to benefit from this trend."
About TransAct Technologies Incorporated TransAct (Nasdaq: TACT) designs, develops, assembles and markets transaction-based printers under the ithaca® brand name. 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 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
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 significant vendors; the ability to recruit and retain quality employees as the Company grows; dependence on third parties for sales outside the United States, including Australia, New Zealand, Europe and Latin America; 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.