HAMDEN, Conn. & WARREN, Ohio--(BUSINESS WIRE)--
TransAct Technologies Incorporated (Nasdaq: TACT) ("the Company"), a
global leader in market-specific solutions, including printers,
terminals, software and other products for transaction-based and other
industries, announced today that the Court of Appeals for the Eleventh
Appellate District in Lake County, Ohio, has affirmed the November 2012
judgment of the Lake County Court of Common Pleas in TransAct's favor.
The earlier Lake County Court of Common Pleas judgment denied Avery
Dennison Corporation's request for a preliminary injunction against
TransAct for alleged misappropriation of Avery Dennison trade secrets in
connection with the design of the Company's food safety terminals.
Bart Shuldman, Chairman and Chief Executive Office of TransAct,
commented, "We are very pleased that the Court of Appeals ruled in
TransAct's favor, confirming our position that Avery Dennison's claims
are wholly without merit. We remain highly confident in the strengths
and value of our intellectual property portfolio, which is the result of
the development work of our engineering team and which forms the
foundation for our innovative solutions that address specific
opportunities across multiple industries. As such, TransAct is always
willing to compete for market share based on the competitive strengths
of our products and solutions.
"Our innovative Ithaca® 9700 food safety terminal continues to lead the
way in addressing the technology needs of a wide variety of restaurant
and food service operators around the world and is being embraced as the
preferred food safety solution. The number of potential sales
opportunities for the Ithaca 9700 continues to grow, and we look forward
to working closely with an increasing number of restaurant and food
service operators to bring this unique solution to market."
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.
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 or tact@jcir.com
Source: TransAct Technologies Incorporated
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