Covers TransAct's Proprietary Void and Reprint Receipt Printing
Method for Slot Machines
WALLINGFORD, Conn., July 23 /PRNewswire-FirstCall/ -- TransAct
Technologies Incorporated (Nasdaq: TACT), a leading producer of
transaction-based printers for customers worldwide, today announced that the
U.S. Patent and Trademark Office has allowed a second patent application
covering TransAct's proprietary void and reprint receipt printing method. The
first patent on this technology, U.S. 6,498,655, was issued on December 24,
2002.
TransAct's proprietary void and reprint system features a barcode reader
inside the printer and the associated hardware and firmware. When a ticket is
printed, the void and reprint technology reads the barcode as it is being
printed. If there is a problem, the printer will pull the ticket backwards
and reread the ticket. If the ticket is determined to be bad after rereading,
the system will void the ticket, and either hold the ticket or dispense it. A
replacement ticket can also be printed.
Bart C. Shuldman, Chairman, CEO and President said, "We are pleased that
our latest patent application has been allowed because it further broadens our
potential offerings to the casino market by providing added solutions to
improve receipt printing. The benefit of this version is that our technology
allows the slot machine to hold the ticket in the machine, after voiding;
therefore offering casinos and slot manufacturers the choice of issuing a
ticket that has been voided or storing it internally. Our protected
intellectual property and technology gives TransAct a competitive advantage
while providing the casino industry with the solution to a common concern."
TransAct will be showcasing its line of gaming printers at the 2003 Global
Gaming Expo (G2E), from September 16-18 at the Las Vegas Convention Center.
The Company will be exhibiting at booth 2723. For more information visit
http://www.globalgamingexpo.com.
About TransAct Technologies Incorporated
TransAct (Nasdaq: TACT) designs, develops, manufactures and markets
transaction-based printers under the ITHACA(R) and MAGNETEC(R) 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 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.
CONTACTS:
Richard L. Cote, Chief Financial Officer, 203-269-1198 Ext. 6020
or David Pasquale, 646-536-7006, or Jim Olecki, 646-536-7021 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, including
GTECH Corp.; dependence on third parties for sales in Europe and Latin
America; economic conditions in the United States, Europe and Latin America;
marketplace acceptance of new products, risks associated with foreign
operations; the Company's ability to successfully sublease its facility in
Wallingford, CT subsequent to its closing; 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 report and the Company assumes no
duty to update them to reflect new, changing or unanticipated events or
circumstances.
SOURCE TransAct Technologies Incorporated
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Related links:
http://www.transact-tech.com
CONTACT:
Richard L. Cote, Chief Financial Officer of
TransAct, +1-203-269-1198 Ext. 6020; or David Pasquale,
646-536-7006, or Jim Olecki, +1-646-536-7021 both with The Ruth
Group
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