Release Details
TRANSACT TECHNOLOGIES RESPONDS TO QUESTIONS RELATED TO ITS PATENT ALLOWANCE COVERING TECHNOLOGIES IN ITS EPIC 950™ THERMAL PRINTER
TRANSACT TECHNOLOGIES RESPONDS TO QUESTIONS RELATED TO ITS PATENT ALLOWANCE COVERING TECHNOLOGIES IN ITS EPIC 950™ THERMAL PRINTER
April 6, 2005
TRANSACT TECHNOLOGIES RESPONDS TO QUESTIONS RELATED TO ITS PATENT ALLOWANCE COVERING TECHNOLOGIES IN ITS EPIC 950 THERMAL PRINTERWallingford, CT - April 6, 2005 - TransAct Technologies Incorporated (Nasdaq: TACT), a leading producer of transaction-based printers for customers worldwide, issued a statement regarding its intellectual property for its Epic 950™ thermal slot machine printer.
Bart C. Shuldman, Chairman, President and CEO said, "Allegations made by FutureLogic regarding TransAct's patent on technologies contained in our Epic 950™ thermal slot machine printer have absolutely no merit. First and foremost, the technologies covered under the notice of allowance TransAct received from the U.S. Patent and Trademark Office are different from any technologies developed by FutureLogic. Second, TransAct has the utmost respect for intellectual property rights and we diligently ensure that all necessary disclosures and filings are made on a timely basis and in line with all legal requirements. Thus, we made all necessary disclosures related to our allowed patent application within the required time and in accordance with the rules of the Patent and Trademark office. We fully expect that FutureLogic's allegation will be found to be without merit and that our superior printer technologies will prevail."
About TransAct Technologies Incorporated
TransAct (Nasdaq: TACT) designs, develops, manufactures and markets transaction-based printers under the ithaca® 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: Certain statements in this press release include forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "project" or "continue" or the negative thereof or other similar words. All forward-looking statements involve risks and uncertainties, including, but 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.
Bart C. Shuldman, Chairman, President and CEO said, "Allegations made by FutureLogic regarding TransAct's patent on technologies contained in our Epic 950™ thermal slot machine printer have absolutely no merit. First and foremost, the technologies covered under the notice of allowance TransAct received from the U.S. Patent and Trademark Office are different from any technologies developed by FutureLogic. Second, TransAct has the utmost respect for intellectual property rights and we diligently ensure that all necessary disclosures and filings are made on a timely basis and in line with all legal requirements. Thus, we made all necessary disclosures related to our allowed patent application within the required time and in accordance with the rules of the Patent and Trademark office. We fully expect that FutureLogic's allegation will be found to be without merit and that our superior printer technologies will prevail."
About TransAct Technologies Incorporated
TransAct (Nasdaq: TACT) designs, develops, manufactures and markets transaction-based printers under the ithaca® 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: Certain statements in this press release include forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "project" or "continue" or the negative thereof or other similar words. All forward-looking statements involve risks and uncertainties, including, but 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.