- Industry-Leading Food Safety Solution Addresses Global Opportunity
of Over 700,000 Terminals -
HAMDEN, Conn.--(BUSINESS WIRE)--
Highlighting growing industry interest in the Company's innovative food
safety terminal solution, TransAct Technologies Incorporated (Nasdaq:
TACT) ("TransAct"), a global leader in market-specific solutions,
including printers, terminals, software and other products for
transaction-based and other industries, announced today that it recently
surpassed 100 customer trials for the Ithaca® 9700. Since the start of
production in October 2012, the innovative
Ithaca 9700 food safety terminal has provided restaurant and food
service operators with an easy to deploy solution that improves
operations by saving time, cutting food waste and the risk of food
spoilage, and reducing labor costs.
The trials to date feature menus customized for each of the 100
potential customers, encompassing over 60 different restaurant companies
in six countries and representing an aggregate opportunity of
approximately 60,000 terminals. Following software enhancements for the
Ithaca 9700 completed in June 2013 based on customer feedback, TransAct
was able to provide custom design solutions and new features and
functions that provided enhanced solutions for the many trials underway.
Trials for the Ithaca 9700 typically take from six to twelve months
before a purchasing decision is made.
Bart Shuldman, Chairman and Chief Executive Officer of TransAct
Technologies, commented, "The inflection point for the Ithaca 9700 has
started given the acceleration in the number of product trials initiated
over the last several months. Since its introduction, our engineering
team has done a phenomenal job in further enhancing the Ithaca 9700 to
address the specific technology needs of a wide variety of restaurant
and food service operators. This has allowed us to work very closely
with each potential customer to provide them with customized menus,
nutritional labels, food segmentation and other custom design solutions.
It has also strengthened the terminal's appeal and the value TransAct
offers to a diverse array of unique potential customers around the
world, thus translating into new trials and potential sales momentum.
"We are particularly encouraged by the brand and geographic diversity of
the quick service and casual restaurant customers interested in the
Ithaca 9700. This is clear evidence that the Ithaca 9700 addresses a
significant global industry opportunity and is being embraced by
restaurant and food service operators around the world as the preferred
choice for food safety solutions. With over 100 trials initiated to
date, the number of potential sales opportunities for the Ithaca 9700
continues to grow."
The Ithaca 9700 food safety terminal is an innovative new product for
restaurant and food service operators, allowing them to quickly print
easy-to-read expiration and "enjoy by" date labels, making food spoilage
much more manageable. Featuring a large, easy-to-read 8.4-inch color
touch screen display, the PC-based terminal also allows operators to
quickly change their menu items, print accurate calorie counts on food
items and generate accurate "prep" and "grab-and-go" labels via an
internal real-time clock. Available in 1- or 2-printer configurations,
the Ithaca 9700 offers simple drop-in label loading and can handle a
variety of label widths and lengths.
Ithaca 9700 sales are growing as quick service and casual restaurants
increasingly understand the efficiency and operational benefits
TransAct's easy-to-use solution brings to their business. The Ithaca
9700 is uniquely positioned to help all foodservice providers better
comply with federal, state and local regulations by more fully
automating their contamination prevention processes while improving the
overall quality of their product offerings.
For more information on the Ithaca 9700 food safety terminal, please
visit http://www.transact-tech.com.
About TransAct Technologies Incorporated
TransAct Technologies Incorporated is a leader in developing and
manufacturing market-specific solutions, including printers, terminals,
software and other products for transaction-based and other industries.
These industries include casino and gaming, lottery, food safety,
banking, point-of-sale, hospitality, oil and gas, and medical and
mobile. Each individual market has distinct, critical requirements for
printing and the transaction is not complete until the receipt and/or
ticket is produced. TransAct printers and products are designed from the
ground up based on market-specific requirements and are sold under the
Ithaca®, Epic, EPICENTRAL® and Printrex® product brands. TransAct
distributes its printers through OEMs, value-added resellers, selected
distributors, and direct to end-users. TransAct has over 2.4 million
printers installed around the world. TransAct is also committed to
providing world-class printer service, spare parts, accessories and
printing supplies to its growing worldwide installed base of printers.
Through its TransAct Services Group, TransAct provides a complete range
of supplies and consumable items used in the printing and scanning
activities of customers in the hospitality, banking, retail, gaming,
government and oil and gas exploration markets. Through its webstore, http://www.transactsupplies.com,
and a direct selling team, TransAct addresses the on-line demand for
these products. TransAct is headquartered in Hamden, CT. For more
information, please visit http://www.transact-tech.com
or call 203.859.6800.
Ithaca is a registered trademark of TRANSACT Technologies Incorporated.
©2013 TRANSACT Technologies Incorporated. All rights reserved.
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" or "continue" or the
negative thereof or other similar words. All forward-looking statements
involve risks and uncertainties, including, 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; our
competitors introducing new products into the marketplace; our ability
to successfully develop new products; our dependence on significant
customers; our dependence on significant vendors; dependence on contract
manufacturers for the assembly of a large portion of our products in
China; our ability to protect intellectual property; our ability to
recruit and retain quality employees as the Company grows; our
dependence on third parties for sales outside the United States,
including Australia, New Zealand, Europe, Latin America and Asia; the
economic and political conditions in the United States, Australia, New
Zealand, Europe, Latin America and Asia; marketplace acceptance of new
products; risks associated with foreign operations; the availability of
third-party components at reasonable prices; price wars or other
significant pricing pressures affecting the Company's products in the
United States or abroad; risks associated with potential future
acquisitions; our new line of food safety and oil and gas products will
drive increased adoption by customers; the outcome of the lawsuit
between TransAct and Avery Dennison Corporation; and other risk factors
detailed from time to time in TransAct's reports filed with the
Securities and Exchange Commission. 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.
Investors:
TransAct Technologies Incorporated
Steve
DeMartino, 203-859-6810
President and Chief Financial Officer
or
JCIR
Richard
Land, Joseph Jaffoni, Jim Leahy
212-835-8500
tact@jcir.com
Source: TransAct Technologies Incorporated
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